Asia: Butter and Ghee Market Overview 2021

Butter and Ghee Market Size in Asia

After three years of growth, the Asian butter and ghee market decreased by -X% to $X in 2019. The total consumption indicated a resilient expansion from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, the market attained the maximum level at $X in 2018, and then fell slightly in the following year.

Butter and Ghee Production in Asia

In value terms, butter and ghee production contracted slightly to $X in 2019 estimated in export prices. Overall, production enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. As a result, production reached the peak level of $X. From 2018 to 2019, production growth remained at a somewhat lower figure.

Production by Country in Asia

India (X tonnes) constituted the country with the largest volume of butter and ghee production, comprising approx. X% of total volume. Moreover, butter and ghee production in India exceeded the figures recorded by the second-largest producer, Pakistan (X tonnes), fivefold. The third position in this ranking was occupied by Turkey (X tonnes), with a X% share.

In India, butter and ghee production increased at an average annual rate of +X% over the period from 2007-2019. The remaining producing countries recorded the following average annual rates of production growth: Pakistan (+X% per year) and Turkey (+X% per year).

Butter and Ghee Exports

Exports in Asia

In 2019, approx. X tonnes of butter and ghee were exported in Asia; increasing by X% compared with the previous year's figure. Total exports indicated a moderate increase from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +X% against 2017 indices. The pace of growth appeared the most rapid in 2018 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure in 2019 and are likely to continue growth in the near future.

In value terms, butter and ghee exports stood at $X in 2019. Overall, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2018 when exports increased by X% year-to-year. The level of export peaked in 2019 and is expected to retain growth in the immediate term.

Exports by Country

In 2019, India (X tonnes) represented the largest exporter of butter and ghee, committing X% of total exports. Malaysia (X tonnes) occupied the second position in the ranking, followed by Saudi Arabia (X tonnes), the United Arab Emirates (X tonnes), Singapore (X tonnes) and Kazakhstan (X tonnes). All these countries together held approx. X% share of total exports. China (X tonnes) followed a long way behind the leaders.

Exports from India increased at an average annual rate of +X% from 2007 to 2019. at the same time, Kazakhstan (+X%), Saudi Arabia (+X%) and Malaysia (+X%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +X% from 2007-2019. by contrast, the United Arab Emirates (-X%), China (-X%) and Singapore (-X%) illustrated a downward trend over the same period. While the share of India (+X p.p.), Saudi Arabia (+X p.p.), Kazakhstan (+X p.p.) and Malaysia (+X p.p.) increased significantly in terms of the total exports from 2007-2019, the share of the United Arab Emirates (-X p.p.), China (-X p.p.) and Singapore (-X p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest butter and ghee supplier in Asia, comprising X% of total exports. The second position in the ranking was occupied by Saudi Arabia ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value in India amounted to +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+X% per year) and Malaysia (+X% per year).

Export Prices by Country

The butter and ghee export price in Asia stood at $X per tonne in 2019, which is down by -X% against the previous year. Export price indicated a resilient increase from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per tonne in 2018, and then dropped modestly in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was Singapore ($X per tonne), while the United Arab Emirates ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Singapore, while the other leaders experienced more modest paces of growth.

Butter and Ghee Imports

Imports in Asia

In 2019, approx. X tonnes of butter and ghee were imported in Asia; picking up by X% against 2018. The total import volume increased at an average annual rate of +X% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of X% y-o-y. The volume of import peaked in 2019 and is expected to retain growth in the near future.

In value terms, butter and ghee imports dropped slightly to $X in 2019. Overall, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018, and then declined in the following year.

Imports by Country

In 2019, China (X tonnes), distantly followed by Iran (X tonnes), Saudi Arabia (X tonnes), the United Arab Emirates (X tonnes), the Philippines (X tonnes), Indonesia (X tonnes), Japan (X tonnes) and Taiwan (Chinese) (X tonnes) were the main importers of butter and ghee, together constituting X% of total imports. The following importers - Viet Nam (X tonnes), Malaysia (X tonnes), Singapore (X tonnes), South Korea (X tonnes) and Azerbaijan (X tonnes) - together made up X% of total imports.

China was also the fastest-growing in terms of the butter and ghee imports, with a CAGR of +X% from 2007 to 2019. at the same time, South Korea (+X%), the Philippines (+X%), Viet Nam (+X%), the United Arab Emirates (+X%), Indonesia (+X%), Japan (+X%), Malaysia (+X%), Taiwan (Chinese) (+X%) and Saudi Arabia (+X%) displayed positive paces of growth. Iran experienced a relatively flat trend pattern. by contrast, Singapore (-X%) and Azerbaijan (-X%) illustrated a downward trend over the same period. While the share of China (+X p.p.) and the Philippines (+X p.p.) increased significantly in terms of the total imports from 2007-2019, the share of Saudi Arabia (-X p.p.), Azerbaijan (-X p.p.), Iran (-X p.p.) and Singapore (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported butter and ghee in Asia, comprising X% of total imports. The second position in the ranking was occupied by Saudi Arabia ($X), with a X% share of total imports. It was followed by the Philippines, with a X% share.

In China, butter and ghee imports increased at an average annual rate of +X% over the period from 2007-2019. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+X% per year) and the Philippines (+X% per year).

Import Prices by Country

The butter and ghee import price in Asia stood at $X per tonne in 2019, reducing by -X% against the previous year. Import price indicated prominent growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, butter and ghee import price increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2017 an increase of X% y-o-y. Over the period under review, import prices reached the maximum at $X per tonne in 2018, and then dropped in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per tonne), while Iran ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform