China: Butter And Ghee Market 2021

Butter And Ghee Market Size in China

In 2019, the Chinese butter and ghee market decreased by -X% to $X for the first time since 2016, thus ending a two-year rising trend. Overall, consumption, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2017 when the market value increased by X% against the previous year. Butter and ghee consumption peaked at $X in 2018, and then dropped slightly in the following year.

Butter And Ghee Production in China

In value terms, butter and ghee production shrank to $X in 2019 estimated in export prices. In general, the total production indicated moderate growth from 2007 to 2019: its value decreased 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, production decreased by -X% against 2017 indices. The pace of growth was the most pronounced 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 lower figure.

Butter And Ghee Exports

Exports from China

In 2019, shipments abroad of butter and ghee increased by X% to X tonnes, rising for the third consecutive year after two years of decline. In general, exports, however, recorded a deep downturn. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. Over the period under review, exports reached the maximum at X tonnes in 2008; however, from 2009 to 2019, exports stood at a somewhat lower figure.

In value terms, butter and ghee exports totaled $X in 2019. Overall, exports, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2017 when exports increased by X% year-to-year. Exports peaked at $X in 2008; however, from 2009 to 2019, exports stood at a somewhat lower figure.

Exports by Country

The Philippines (X tonnes) was the main destination for butter and ghee exports from China, with a X% share of total exports. Moreover, butter and ghee exports to the Philippines exceeded the volume sent to the second major destination, Hong Kong SAR (X tonnes), threefold. The third position in this ranking was occupied by Democratic People's Republic of Korea (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to the Philippines totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+X% per year) and Democratic People's Republic of Korea (+X% per year).

In value terms, the Philippines ($X) remains the key foreign market for butter and ghee exports from China, comprising X% of total exports. The second position in the ranking was occupied by Hong Kong SAR ($X), with a X% share of total exports. It was followed by Democratic People's Republic of Korea, with a X% share.

From 2007 to 2019, the average annual growth rate of value to the Philippines totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+X% per year) and Democratic People's Republic of Korea (+X% per year).

Export Prices by Country

In 2019, the average butter and ghee export price amounted to $X per tonne, leveling off at the previous year. Over the period under review, export price indicated notable 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 export price decreased by -X% against 2017 indices. The pace of growth appeared the most rapid in 2008 when the average export price increased by X% against the previous year. Over the period under review, average export prices attained the peak figure at $X per tonne in 2017; however, from 2018 to 2019, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2019, the country with the highest price was Hong Kong SAR ($X per tonne), while the average price for exports to Myanmar ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to South Korea, while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into China

For the fourth consecutive year, China recorded growth in supplies from abroad of butter and ghee, which increased by X% to X tonnes in 2019. Overall, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2009 with an increase of X% against the previous year. Imports peaked in 2019 and are likely to see gradual growth in years to come.

In value terms, butter and ghee imports reached $X in 2019. In general, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2011 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2019 and are likely to see steady growth in years to come.

Imports by Country

In 2019, New Zealand (X tonnes) constituted the largest supplier of butter and ghee to China, accounting for a X% share of total imports. Moreover, butter and ghee imports from New Zealand exceeded the figures recorded by the second-largest supplier, France (X tonnes), more than tenfold. The third position in this ranking was occupied by Belgium (X tonnes), with a X% share.

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

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

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

Import Prices by Country

In 2019, the average butter and ghee import price amounted to $X per tonne, standing approx. at the previous year. Overall, the import price continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2010 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs in 2019 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2019, the countries with the highest prices were France ($X per tonne) and Belgium ($X per tonne), while the price for New Zealand ($X per tonne) and the Netherlands ($X per tonne) were amongst the lowest.

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

Source: IndexBox Platform