Bangladesh: Butter Market Overview 2021

Butter Market Size in Bangladesh

The Bangladeshi butter market expanded modestly to $X in 2019, with an increase of X% against the previous year. In general, the total consumption indicated a temperate 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. Based on 2019 figures, consumption decreased by -X% against 2017 indices. The pace of growth appeared the most rapid in 2016 when the market value increased by X% year-to-year. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2019, consumption remained at a lower figure.

Butter Production in Bangladesh

In value terms, butter production rose to $X in 2019 estimated in export prices. In general, production enjoyed a mild increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2019, production growth remained at a lower figure.

Butter Exports

Exports from Bangladesh

In 2019, overseas shipments of butter decreased by -X% to X tonnes for the first time since 2016, thus ending a two-year rising trend. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. As a result, exports attained the peak of X tonnes, and then dropped in the following year.

In value terms, butter exports surged to $X in 2019. Overall, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, exports reached the peak figure in 2019 and are likely to see gradual growth in the near future.

Exports by Country

The U.S. (X tonnes) was the main destination for butter exports from Bangladesh, accounting for a approx. X% share of total exports.

From 2007 to 2019, the average annual growth rate of volume to the U.S. totaled +X%.

In value terms, the U.S. ($X) also remains the key foreign market for butter exports from Bangladesh.

From 2007 to 2019, the average annual growth rate of value to the U.S. totaled +X%.

Export Prices by Country

In 2019, the average butter export price amounted to $X per tonne, surging by X% against the previous year. Over the period under review, export price indicated a notable 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. Based on 2019 figures, butter export price decreased by -X% against 2016 indices. The pace of growth appeared the most rapid in 2009 when the average export price increased by X% against the previous year. The export price peaked at $X per tonne in 2016; however, from 2017 to 2019, export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the U.S..

From 2007 to 2019, the rate of growth in terms of prices for the U.S. amounted to +X% per year.

Butter Imports

Imports into Bangladesh

In 2019, the amount of butter imported into Bangladesh expanded slightly to X tonnes, growing by X% against 2018. Overall, imports recorded a strong expansion. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tonnes. From 2017 to 2019, the growth imports remained at a somewhat lower figure.

In value terms, butter imports reduced to $X in 2019. In general, imports showed a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2019, imports remained at a lower figure.

Imports by Country

New Zealand (X tonnes), India (X tonnes) and Ireland (X tonnes) were the main suppliers of butter imports to Bangladesh, with a combined X% share of total imports.

From 2007 to 2019, the biggest increases were in India, while purchases for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X) constituted the largest supplier of butter to Bangladesh, comprising X% of total imports. The second position in the ranking was occupied by India ($X), with a X% share of total imports. It was followed by Ireland, with a X% share.

From 2007 to 2019, the average annual growth rate of value from New Zealand amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+X% per year) and Ireland (X% per year).

Import Prices by Country

The average butter import price stood at $X per tonne in 2019, with a decrease of -X% against the previous year. Over the period under review, the import price, however, recorded a noticeable expansion. The pace of growth was the most pronounced in 2010 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2011; however, from 2012 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Denmark ($X per tonne), while the price for Malaysia ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by New Zealand, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for butter in the world?

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The countries with the highest volumes of butter consumption in 2019 were the U.S. (984K tonnes), France (520K tonnes) and Germany (446K tonnes), together accounting for 35% of global consumption. Russia, Turkey, New Zealand, the UK, China, Iran, Poland, Australia, Brazil and Italy lagged somewhat behind, together comprising a further 33%.

What are the largest producers of butter in the world?

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The countries with the highest volumes of butter production in 2019 were the U.S. (965K tonnes), New Zealand (514K tonnes) and Germany (438K tonnes), with a combined 34% share of global production. France, Ireland, Turkey, Russia, Poland, the UK, the Netherlands, Belarus, Iran and Ukraine lagged somewhat behind, together accounting for a further 36%.

What are the leading suppliers of butter to Bangladesh?

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In value terms, New Zealand ($894K) constituted the largest supplier of butter to Bangladesh, comprising 53% of total imports. The second position in the ranking was occupied by India ($432K), with a 26% share of total imports. It was followed by Ireland, with a 15% share.

What are the leading importers of butter from Bangladesh?

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In value terms, the U.S. ($97K) remains the key foreign market for butter exports from Bangladesh.

What is the average export price for butter in Bangladesh?

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In 2019, the average butter export price amounted to $4,025 per tonne, jumping by 34% against the previous year.

What is the average import price for butter in Bangladesh?

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In 2019, the average butter import price amounted to $3,878 per tonne, with a decrease of -11.9% against the previous year.