Eritrea: Butter Market Overview 2020

Butter Market Size in Eritrea

The revenue of the butter market in Eritrea amounted to $X in 2018, picking up by X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2017 when the market value increased by X% year-to-year. Over the period under review, the butter market attained its peak figure level in 2018 and is likely to see steady growth in the immediate term.

Butter Production in Eritrea

In value terms, butter production stood at $X in 2018 estimated in export prices. Overall, the total output indicated a remarkable expansion from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, butter production increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% year-to-year. Eritrea butter production peaked in 2018 and is likely to see steady growth in the immediate term.

Butter Exports

Exports by Country

The exports of the three major exporters of butter, namely New Zealand, the Netherlands and Ireland, represented more than third of total export. Germany (X tonnes) took the next position in the ranking, followed by Belgium (X tonnes), Belarus (X tonnes) and France (X tonnes). All these countries together held near X% share of total exports. The following exporters - Poland (X tonnes), Denmark (X tonnes), the UK (X tonnes), Finland (X tonnes) and Ukraine (X tonnes) - together made up X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Ukraine, while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Ireland ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of exports in 2018, together comprising X% of total exports. Belgium, Germany, France, Belarus, Denmark, Poland, the UK, Finland and Ukraine lagged somewhat behind, together accounting for a further X the main exporting countries, Ukraine recorded the highest growth rate of exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the butter export price in Eritrea amounted to $X per tonne, approximately reflecting the previous year. In general, the butter export price continues to indicate a relatively flat trend pattern.

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

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by New Zealand, while the other leaders experienced more modest paces of growth.

Butter Imports

Imports into Eritrea

In 2018, the amount of butter imported into Eritrea amounted to X tonnes, jumping by X% against the previous year. Over the period under review, butter imports, however, continue to indicate a sharp descent. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Eritrea imports peaked at X tonnes in 2007; however, from 2008 to 2018, imports remained at a lower figure.

In value terms, butter imports amounted to $X in 2018. Overall, butter imports, however, continue to indicate an abrupt drop. The growth pace was the most rapid in 2012 when imports increased by X% against the previous year. In that year, butter imports reached their peak of $X. From 2013 to 2018, the growth of butter imports remained at a somewhat lower figure.

Imports by Country

France (X tonnes), the Netherlands (X tonnes), Germany (X tonnes), Belgium (X tonnes), Russia (X tonnes), the UK (X tonnes) and China (X tonnes) represented roughly X% of total imports of butter in 2018. The U.S. (X tonnes), Saudi Arabia (X tonnes), Indonesia (X tonnes), Italy (X tonnes) and Australia (X tonnes) took a relatively small share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by China, while the other leaders experienced more modest paces of growth.

In value terms, the largest butter importing markets into Eritrea were France ($X), the Netherlands ($X) and Germany ($X), with a combined X% share of total imports. These countries were followed by Russia, Belgium, the UK, China, the U.S., Italy, Australia, Saudi Arabia, Indonesia and Eritrea, which together accounted for a further X the main importing countries, China recorded the highest growth rate of imports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The butter import price in Eritrea stood at $X per tonne in 2018, going up by X% against the previous year. Over the period under review, the butter import price continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2008 an increase of X% y-o-y. Over the period under review, the import prices for butter attained their maximum at $X per tonne in 2014; however, from 2015 to 2018, import prices remained at a lower figure.

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

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Russia, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform