Price for Butter and Other Fats and Oils Derived from Milk in Singapore - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Singapore (CIF) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in Singapore (FOB) - 2023
- Imports of Butter and Other Fats and Oils Derived from Milk in Singapore
- Exports of Butter and Other Fats and Oils Derived from Milk in Singapore
Price for Butter and Other Fats and Oils Derived from Milk in Singapore (CIF) - 2023
The average import price for butter and other fats and oils derived from milk stood at $10,694 per ton in September 2022, picking up by 1.9% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $10,788 per ton in June 2022; however, from July 2022 to September 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was Belgium ($13,917 per ton), while the price for Australia ($9,258 per ton) was amongst the lowest.
From June 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Butter and Other Fats and Oils Derived from Milk in Singapore (FOB) - 2023
The average export price for butter and other fats and oils derived from milk stood at $11,077 per ton in September 2022, rising by 18% against the previous month. Over the period under review, the export price, however, continues to indicate a slight curtailment. The export price peaked at $11,468 per ton in June 2022; however, from July 2022 to September 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major external markets. In September 2022, the highest price was recorded for prices to Brunei Darussalam ($12,149 per ton) and the Philippines ($11,840 per ton), while the average price for exports to Malaysia ($10,526 per ton) and Hong Kong SAR ($10,594 per ton) were amongst the lowest.
From June 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (0.0%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Butter and Other Fats and Oils Derived from Milk in Singapore
In 2022, approx. 15K tons of butter and other fats and oils derived from milk were imported into Singapore; which is down by -19.2% compared with the year before. Over the period under review, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 13%. As a result, imports reached the peak of 19K tons, and then dropped significantly in the following year.
In value terms, imports of butter and other fats and oils derived from milk declined modestly to $109M in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 22%. As a result, imports attained the peak of $111M, and then shrank in the following year.
| Import of Butter and Other Fats and Oils Derived from Milk in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 41.3 | 33.5 | 37.9 | 41.6 | 0.2% |
| Netherlands | 19.9 | 11.7 | 15.7 | 16.8 | -5.5% |
| France | 13.0 | 10.8 | 12.4 | 13.1 | 0.3% |
| Australia | 11.9 | 9.7 | 12.4 | 10.7 | -3.5% |
| Denmark | 5.4 | 5.2 | 6.1 | 8.4 | 15.9% |
| India | 5.7 | 7.2 | 7.7 | 7.5 | 9.6% |
| Malaysia | 2.9 | 2.9 | 3.3 | 2.7 | -2.4% |
| Others | 8.3 | 9.7 | 15.6 | 8.1 | -0.8% |
| Total | 108 | 90.7 | 111 | 109 | 0.3% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Singapore in 2022:
- New Zealand (6.3K tons)
- Netherlands (2.2K tons)
- Australia (1.7K tons)
- France (1.6K tons)
- Denmark (1.2K tons)
- India (1.0K tons)
- Malaysia (0.4K tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Singapore
Exports of butter and other fats and oils derived from milk from Singapore shrank remarkably to 1.5K tons in 2022, with a decrease of -19.3% against 2021. Overall, exports saw a deep contraction. The pace of growth was the most pronounced in 2021 when exports increased by 11%.
In value terms, exports of butter and other fats and oils derived from milk totaled $11M in 2022. In general, exports saw a abrupt slump. The pace of growth was the most pronounced in 2021 when exports increased by 14% against the previous year.
| Export of Butter and Other Fats and Oils Derived from Milk in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 10.5 | 6.1 | 4.8 | 7.7 | -9.8% |
| Philippines | 0.2 | 0.3 | 1.4 | 0.5 | 35.7% |
| Malaysia | 0.5 | 0.7 | 0.8 | 0.5 | 0.0% |
| Thailand | 0.7 | 0.6 | 0.4 | 0.4 | -17.0% |
| Hong Kong SAR | 0.1 | 0.2 | 0.7 | 0.4 | 58.7% |
| Brunei Darussalam | 0.1 | 0.2 | 0.3 | 0.3 | 44.2% |
| Maldives | 0.3 | N/A | 0.2 | 0.2 | -12.6% |
| Vietnam | 0.2 | N/A | N/A | 0.2 | 0.0% |
| Netherlands | 1.0 | N/A | 0.1 | N/A | -68.4% |
| Saudi Arabia | 0.6 | 0.1 | N/A | N/A | -83.3% |
| Others | 1.0 | 0.7 | 1.4 | 0.5 | -20.6% |
| Total | 15.1 | 9.0 | 10.3 | 10.8 | -10.6% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Singapore in 2022:
- Japan (1076.3 tons)
- Malaysia (74.0 tons)
- Philippines (59.8 tons)
- Hong Kong SAR (49.2 tons)
- Thailand (46.3 tons)
- Brunei Darussalam (38.4 tons)
- Vietnam (34.0 tons)
- Saudi Arabia (23.0 tons)
- Maldives (22.7 tons)
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This report provides an in-depth analysis of the butter and ghee market in Singapore.
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This report provides an in-depth analysis of the market for butter and dairy spreads in Singapore.
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This report provides an in-depth analysis of the global butter and ghee market.
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This report provides an in-depth analysis of the global ghee market.
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This report provides an in-depth analysis of the global butter market.
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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.
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The global butter and ghee market fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015.
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The market of butter and ghee fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015. Over the last year, the market dropped by X% in value terms.
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New Zealand seized control of the butter and ghee market. In 2014, New Zealand exported X thousand tons of butter and ghee totaling X USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total but
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New Zealand continued its dominance in the global ghee trade. In 2014, New Zealand exported X thousand tons of ghee totaling X million USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total ghee
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This year global butter production is anticipated to keep up with ha last year, amounting to 5.6M tons. The EU is forecast to decrease butter exports due to a slight drop in production amid an increase in demand. Butter exports from New Zealand are not forecast to grow due to increased competition with UHT cream for food service being increasingly in demand.
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The global trade in butter amounted to X million USD in 2015, fluctuating wildly over the period under review. A significant drop in 2009 was followed by a recovery over the next two years, until exports decreased again
