Price for Butter and Other Fats and Oils Derived from Milk in Thailand - 2024
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Thailand (CIF) - 2024
- Price for Butter and Other Fats and Oils Derived from Milk in Thailand (FOB) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in Thailand
- Exports of Butter and Other Fats and Oils Derived from Milk in Thailand
Price for Butter and Other Fats and Oils Derived from Milk in Thailand (CIF) - 2024
In November 2023, the average import price for butter and other fats and oils derived from milk amounted to $5,598 per ton, reducing by -5.5% against the previous month. Over the period under review, the import price showed a slight descent. The most prominent rate of growth was recorded in March 2023 an increase of 10% m-o-m. Over the period under review, average import prices reached the maximum at $6,758 per ton in January 2023; however, from February 2023 to November 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was France ($8,878 per ton), while the price for New Zealand ($5,306 per ton) was amongst the lowest.
From January 2023 to November 2023, the most notable rate of growth in terms of prices was attained by France (-0.3%), while the prices for the other major suppliers experienced a decline.
Price for Butter and Other Fats and Oils Derived from Milk in Thailand (FOB) - 2022
The average export price for butter and other fats and oils derived from milk stood at $2,607 per ton in 2022, dropping by -8.9% against the previous year. Over the period under review, the export price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2019 when the average export price increased by 27%. Over the period under review, the average export prices attained the peak figure at $3,387 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($7,074 per ton), while the average price for exports to Cambodia ($1,332 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+15.0%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Butter and Other Fats and Oils Derived from Milk in Thailand
Imports of butter and other fats and oils derived from milk into Thailand rose sharply to 14K tons in 2022, growing by 5.6% compared with the previous year. The total import volume increased at an average annual rate of +5.2% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 11% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.
In value terms, imports of butter and other fats and oils derived from milk soared to $94M in 2022. Overall, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +9.3% 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 +52.6% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Butter and Other Fats and Oils Derived from Milk in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 38.1 | 41.5 | 50.7 | 58.9 | 15.6% |
| Australia | 22.0 | 10.4 | 8.3 | 19.5 | -3.9% |
| France | 4.2 | 4.1 | 8.3 | 7.8 | 22.9% |
| India | 2.1 | 0.2 | 2.7 | 2.8 | 10.1% |
| United States | 0.1 | 0.1 | 1.2 | 1.6 | 152.0% |
| Finland | 0.2 | 0.7 | 1.2 | 1.5 | 95.7% |
| Netherlands | 2.4 | 2.0 | 0.7 | 0.4 | -45.0% |
| Others | 2.7 | 2.4 | 1.8 | 1.3 | -21.6% |
| Total | 71.8 | 61.5 | 75.0 | 93.8 | 9.3% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Thailand in 2022:
- New Zealand (8.9K tons)
- Australia (3.1K tons)
- France (0.9K tons)
- India (0.5K tons)
- Finland (0.3K tons)
- United States (0.2K tons)
- Netherlands (0.1K tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Thailand
In 2022, exports of butter and other fats and oils derived from milk from Thailand surged to 1K tons, growing by 69% on the previous year. Over the period under review, exports recorded prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of butter and other fats and oils derived from milk surged to $2.6M in 2022. Overall, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +7.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +88.3% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Butter and Other Fats and Oils Derived from Milk in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Philippines | 612 | 294 | 510 | 772 | 8.0% |
| Myanmar | 329 | 237 | 274 | 696 | 28.4% |
| Lao People's Democratic Republic | 317 | 321 | 340 | 378 | 6.0% |
| Cambodia | 483 | 160 | 135 | 291 | -15.5% |
| Vietnam | 149 | 156 | 117 | 262 | 20.7% |
| Taiwan (Chinese) | 199 | 214 | 300 | 207 | 1.3% |
| Others | 29.6 | 21.2 | 44.9 | 34.5 | 5.2% |
| Total | 2,118 | 1,402 | 1,720 | 2,641 | 7.6% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Thailand in 2022:
- Myanmar (339.7 tons)
- Cambodia (218.8 tons)
- Lao People's Democratic Republic (174.0 tons)
- Philippines (109.2 tons)
- Vietnam (103.0 tons)
- Taiwan (Chinese) (58.4 tons)
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This report provides an in-depth analysis of the butter and ghee market in Thailand.
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This report provides an in-depth analysis of the ghee market in Thailand.
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This report provides an in-depth analysis of the butter market in Thailand.
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This report provides an in-depth analysis of the dairy produce market in Thailand.
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This report provides an in-depth analysis of the market for butter and dairy spreads in Thailand.
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This report provides an in-depth analysis of the dairy spread market in Thailand.
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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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This report provides an in-depth analysis of the global dairy produce market.
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In May 2023, ghee imports experienced a significant growth rate, increasing by 151% compared to the previous month. Furthermore, the value of ghee imports soared to $5.1M in July 2023.
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In August 2023, the growth of Butter was the most rapid with a staggering 133% month-over-month increase. However, in September 2023, the value of butter imports notably contracted to $1.3M.
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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
