China: Ghee Market Overview 2021

Ghee Market Size in China

The Chinese ghee market soared to $X in 2020, jumping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed significant growth. The pace of growth was the most pronounced in 2011 with an increase of X% y-o-y. Ghee consumption peaked at $X in 2018; however, from 2019 to 2020, consumption remained at a lower figure.

Ghee Exports

Exports from China

For the third consecutive year, China recorded decline in overseas shipments of ghee, which decreased by -X% to X tonnes in 2020. Overall, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, exports reached the peak of X tonnes. from 2015 to 2020, the growth exports remained at a lower figure.

In value terms, ghee exports reduced remarkably to $X in 2020. Over the period under review, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. Over the period under review, exports hit record highs at $X in 2014; however, from 2015 to 2020, exports failed to regain the momentum.

Exports by Country

Guatemala (X tonnes), the Philippines (X tonnes) and Hong Kong SAR (X tonnes) were the main destinations of ghee exports from China, with a combined X% share of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala, while exports for the other leaders experienced mixed trend patterns.

In value terms, Guatemala ($X), Hong Kong SAR ($X) and the Philippines ($X) were the largest markets for ghee exported from China worldwide, together accounting for X% of total exports.

Among the main countries of destination, Guatemala recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average ghee export price amounted to $X per tonne, leveling off at the previous year. in general, export price indicated mild growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, ghee export price decreased by -X% against 2017 indices. The pace of growth appeared the most rapid in 2013 an increase of X% y-o-y. The export price peaked at $X per tonne in 2017; however, from 2018 to 2020, export prices failed to regain the momentum.

There were significant differences in the average prices for the major overseas markets. in 2020, the country with the highest price was Bangladesh ($X per tonne), while the average price for exports to the Philippines ($X per tonne) was amongst the lowest.

From 2007 to 2020, 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.

Ghee Imports

Imports into China

In 2020, imports of ghee into China surged to X tonnes, increasing by X% compared with 2019 figures. in general, imports recorded a resilient increase. The pace of growth was the most pronounced in 2011 when imports increased by X% y-o-y. Imports peaked in 2020 and are expected to retain growth in years to come.

In value terms, ghee imports stood at $X in 2020. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2011 when imports increased by X% year-to-year. Imports peaked at $X in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, New Zealand (X tonnes) was the main ghee supplier to China, accounting for a X% share of total imports. It was followed by the U.S. (X tonnes), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of volume from New Zealand amounted to +X%.

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

From 2007 to 2020, the average annual growth rate of value from New Zealand stood at +X%.

Import Prices by Country

In 2020, the average ghee import price amounted to $X per tonne, with a decrease of -X% against the previous year. Overall, the import price, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per tonne in 2018; however, from 2019 to 2020, import prices failed to regain the momentum.

Average prices varied noticeably amongst the major supplying countries. in 2020, the country with the highest price was New Zealand ($X per tonne), while the price for the U.S. totaled $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by New Zealand.

Source: IndexBox Platform