Colombia: Butter And Ghee Market 2024

Butter And Ghee Market Size in Colombia

In 2022, the Colombian butter and ghee market was finally on the rise to reach $X after two years of decline. Overall, consumption enjoyed mild growth. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Butter And Ghee Production in Colombia

In value terms, butter and ghee production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Butter and ghee production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Butter And Ghee Exports

Exports from Colombia

In 2022, the amount of butter and ghee exported from Colombia reduced notably to X tons, which is down by X% compared with the previous year's figure. Overall, exports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, butter and ghee exports contracted rapidly to $X in 2022. In general, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for butter and ghee exports from Colombia, with a X% share of total exports. Moreover, butter and ghee exports to the United States exceeded the volume sent to the second major destination, Ecuador (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Venezuela (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for butter and ghee exports from Colombia, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Venezuela (X% per year).

Export Prices by Country

The average butter and ghee export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and ghee export price increased by X% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Venezuela ($X 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 United States (X%), while the prices for the other major destinations experienced a decline.

Butter And Ghee Imports

Imports into Colombia

In 2022, after three years of decline, there was significant growth in overseas purchases of butter and ghee, when their volume increased by X% to X tons. In general, imports saw mild growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, butter and ghee imports skyrocketed to $X in 2022. Overall, imports enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons) and Brazil (X tons) were the main suppliers of butter and ghee imports to Colombia.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of X.3%).

In value terms, Brazil ($X) constituted the largest supplier of butter and ghee to Colombia, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled X.3%.

Import Prices by Country

In 2022, the average butter and ghee import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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