India: Butter Market 2024

Butter Market Size in India

The Indian butter market declined sharply to $X in 2022, shrinking by X% against the previous year. In general, consumption showed a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Butter Production in India

In value terms, butter production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Butter Exports

Exports from India

In 2022, the amount of butter exported from India surged to X tons, picking up by X% compared with 2021 figures. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter exports skyrocketed to $X in 2022. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain (X tons) was the main destination for butter exports from India, with a X% share of total exports. Moreover, butter exports to Bahrain exceeded the volume sent to the second major destination, Morocco (X tons), threefold. Saudi Arabia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Bahrain stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (X% per year) and Saudi Arabia (X% per year).

In value terms, Bahrain ($X) emerged as the key foreign market for butter exports from India, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports. It was followed by Morocco, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Bahrain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Morocco (X% per year).

Export Prices by Country

In 2022, the average butter export price amounted to $X per ton, rising by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Egypt ($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 Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into India

In 2022, purchases abroad of butter decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, saw a noticeable increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, butter imports reduced to $X in 2022. Overall, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

France (X tons), New Zealand (X tons) and the UK (X tons) were the main suppliers of butter imports to India, with a combined X% share of total imports. Denmark and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual rate of growth in terms of value from France stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and the UK (X% per year).

Import Prices by Country

In 2022, the average butter import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, import price indicated a temperate 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 import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in years to come.

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 France ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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