Price for Butter and Other Fats and Oils Derived from Milk in Qatar - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Qatar (CIF) - 2023
- Imports of Butter and Other Fats and Oils Derived from Milk in Qatar
Price for Butter and Other Fats and Oils Derived from Milk in Qatar (CIF) - 2023
The average import price for butter and other fats and oils derived from milk stood at $7,323 per ton in October 2023, shrinking by -3.6% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in December 2022 when the average import price increased by 26% m-o-m. The import price peaked at $7,954 per ton in October 2022; however, from November 2022 to October 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Malaysia ($11,768 per ton), while the price for Ireland ($4,971 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Butter and Other Fats and Oils Derived from Milk in Qatar
For the fourth year in a row, Qatar recorded growth in purchases abroad of butter and other fats and oils derived from milk, which increased by 44% to 6K tons in 2022. Overall, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +19.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.0% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of butter and other fats and oils derived from milk surged to $40M in 2022. In general, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Butter and Other Fats and Oils Derived from Milk in Qatar (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 3.0 | 3.8 | 2.8 | 13.0 | 63.0% |
| New Zealand | 3.6 | 1.2 | 3.2 | 7.5 | 27.7% |
| Denmark | 5.1 | 8.8 | 6.6 | 6.4 | 7.9% |
| France | 2.7 | 2.1 | 3.0 | 5.4 | 26.0% |
| Netherlands | 0.3 | 0.7 | 0.6 | 1.3 | 63.0% |
| Malaysia | 1.6 | 1.7 | 1.3 | 1.3 | -6.7% |
| Ukraine | 1.5 | 0.7 | 1.3 | 1.2 | -7.2% |
| Belgium | 0.7 | 0.6 | 0.6 | 1.1 | 16.3% |
| Turkey | 0.2 | 0.1 | 0.2 | 0.9 | 65.1% |
| Others | 1.3 | 1.7 | 2.0 | 2.0 | 15.4% |
| Total | 20.1 | 21.3 | 21.7 | 40.2 | 26.0% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Qatar in 2022:
- India (2024.3 tons)
- New Zealand (947.8 tons)
- Denmark (913.2 tons)
- France (646.4 tons)
- Ukraine (457.3 tons)
- Turkey (150.1 tons)
- Netherlands (144.8 tons)
- Belgium (138.3 tons)
- Malaysia (126.9 tons)
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This report provides an in-depth analysis of the butter and ghee market in Qatar.
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This report provides an in-depth analysis of the ghee market in Qatar.
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This report provides an in-depth analysis of the global ghee market.
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Ghee prices in June 2023 remained relatively stable at $8,748 per ton (CIF, Qatar), compared to the previous month.
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As a result, Butter imports reached a peak of 6.4K tons before sharply declining the following year. In terms of value, Butter imports dropped significantly to $22M in 2023.
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In April 2023, the butter price stood at $6,152 per ton (CIF, Qatar), which is down by -5% against the previous month.
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Dairy Spread imports reached 2K tons in 2020 but struggled to recover from 2021 to 2023. The value of Dairy Spread imports plummeted to $2.7M in 2023.
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Imports of Dairy Spread peaked at 2K tons in 2020; however, from 2021 to 2023, they failed to regain momentum. In terms of value, dairy spread imports declined significantly to $2.7M in 2023.
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In May 2023, the growth of Dairy Spread imports was incredibly high, with an increase of 865% month-on-month. Moreover, the value of Dairy Spread imports reached a staggering $127K in October 2023.
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Global butter and ghee consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
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Global butter and ghee exports amounted to X thousand tons in 2015, coming down by -X% against the previous year level.
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Global butter and ghee imports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
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In 2015, the countries with the highest levels of butter and ghee production were Turkey (X thousand tons), Iran (X thousand tons), Syria (X thousand tons), together accounting for X% of total output.
