MERCOSUR: Butter And Ghee Market 2023

Butter And Ghee Market Size in MERCOSUR

In 2021, the MERCOSUR butter and ghee market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Butter And Ghee Production in MERCOSUR

In value terms, butter and ghee production rose slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 34%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Butter And Ghee Exports

Exports in MERCOSUR

In 2021, after three years of growth, there was significant decline in overseas shipments of butter and ghee, when their volume decreased by -7.4% to X tons. Overall, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2019 with an increase of 35% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, butter and ghee exports fell slightly to $X in 2021. In general, exports continue to indicate a noticeable contraction. The growth pace was the most rapid in 2019 with an increase of 32%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Argentina (X tons) and Uruguay (X tons) dominates exports structure, together making up 82% of total exports. It was distantly followed by Chile (X tons), committing a 9.2% share of total exports. Colombia (X tons), Paraguay (X tons) and Brazil (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were in Colombia (with a CAGR of +43.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Uruguay ($X) and Chile ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 92% of total exports. These countries were followed by Paraguay, Colombia and Brazil, which together accounted for a further 7.7%.

Colombia, with a CAGR of +45.0%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, growing by 3.3% against the previous year. Export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, butter and ghee export price decreased by -18.7% against 2017 indices. The pace of growth appeared the most rapid in 2017 an increase of 47%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Chile ($X per ton) and Brazil ($X per ton), while Colombia ($X per ton) and Paraguay ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+3.5%), while the other leaders experienced more modest paces of growth.

Butter And Ghee Imports

Imports in MERCOSUR

After two years of decline, supplies from abroad of butter and ghee increased by 17% to X tons in 2021. Total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 44%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, butter and ghee imports soared to $X in 2021. Overall, imports saw strong growth. The pace of growth appeared the most rapid in 2017 when imports increased by 47% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Chile (X tons), Peru (X tons) and Brazil (X tons) represented roughly 86% of total imports in 2021. It was distantly followed by Venezuela (X tons), creating a 6.2% share of total imports. Uruguay (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Chile (with a CAGR of +23.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest butter and ghee importing markets in MERCOSUR were Chile ($X), Peru ($X) and Brazil ($X), with a combined 81% share of total imports.

Among the main importing countries, Chile, with a CAGR of +25.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, surging by 2.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.5%. The growth pace was the most rapid in 2017 when the import price increased by 44% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Venezuela ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Venezuela (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :