New Zealand: Butter And Ghee Market 2024

Butter And Ghee Market Size in New Zealand

In 2022, the New Zealand butter and ghee market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, saw prominent growth. Butter and ghee consumption peaked at $X in 2021, and then shrank significantly in the following year.

Butter And Ghee Production in New Zealand

In value terms, butter and ghee production reduced slightly 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 pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Butter And Ghee Exports

Exports from New Zealand

After two years of decline, overseas shipments of butter and ghee increased by X% to X tons in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, butter and ghee exports surged to $X in 2022. Overall, total exports indicated a strong expansion from 2012 to 2022: its value 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China (X tons) was the main destination for butter and ghee exports from New Zealand, with a X% share of total exports. Moreover, butter and ghee exports to China exceeded the volume sent to the second major destination, Australia (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 China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Saudi Arabia (X% per year).

In value terms, China ($X) remains the key foreign market for butter and ghee exports from New Zealand, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2022, the average butter and ghee export price amounted to $X per ton, jumping by X% against the previous year. In general, export price indicated a buoyant increase 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. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Indonesia ($X per ton) and the Philippines ($X per ton), while the average price for exports to Australia ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into New Zealand

Butter and ghee imports into New Zealand surged to X tons in 2022, picking up by X% on the previous year's figure. In general, imports continue to indicate perceptible growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, butter and ghee imports surged to $X in 2022. Overall, imports posted a strong increase. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of butter and ghee to New Zealand, accounting for a X% share of total imports. Moreover, butter and ghee imports from India exceeded the figures recorded by the second-largest supplier, Ireland (X tons), fourfold. Denmark (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (X% per year) and Denmark (X% per year).

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

From 2012 to 2022, the average annual growth rate of value from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (X% per year) and Denmark (X% per year).

Import Prices by Country

The average butter and ghee import price stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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