New Zealand: Ghee Market 2024

Ghee Market Size in New Zealand

In 2022, after three years of growth, there was significant decline in the New Zealand ghee market, when its value decreased by X% to $X. Overall, consumption, however, enjoyed a significant increase. Over the period under review, the market attained the maximum level at $X in 2021, and then contracted rapidly in the following year.

Ghee Production in New Zealand

In value terms, ghee production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Ghee Exports

Exports from New Zealand

In 2022, shipments abroad of ghee was finally on the rise to reach X tons after three years of decline. In general, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, ghee exports soared to $X in 2022. Overall, total exports indicated a remarkable increase 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Mexico (X tons) and the Philippines (X tons) were the main destinations of ghee exports from New Zealand, with a combined X% share of total exports. The United States, Malaysia, Egypt, Denmark, Thailand, Indonesia, Australia, Saudi Arabia, Vietnam and the Netherlands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ghee exported from New Zealand were China ($X), Mexico ($X) and the Philippines ($X), with a combined X% share of total exports. Malaysia, the United States, Egypt, Denmark, Indonesia, Thailand, Australia, Saudi Arabia, the Netherlands and Vietnam lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Denmark, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average 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 resilient growth 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, ghee export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Indonesia ($X per ton) and Saudi Arabia ($X per ton), while the average price for exports to the United States ($X per ton) and Vietnam ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into New Zealand

In 2022, the amount of ghee imported into New Zealand rose notably to X tons, growing by X% compared with 2021 figures. In general, imports recorded a strong increase. The pace of growth was the most pronounced in 2014 when imports increased by X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, ghee imports rose remarkably to $X in 2022. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) was the main supplier of ghee to New Zealand, with a X% share of total imports. Moreover, ghee imports from India exceeded the figures recorded by the second-largest supplier, Fiji (X tons), more than tenfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Fiji (X% per year) and the United Arab Emirates (X% per year).

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

From 2012 to 2022, the average annual growth rate of value from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Fiji (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the average ghee import price amounted to $X per ton, therefore, remained relatively stable 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 2013 an increase of X% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Fiji ($X per ton), while the price for the United Arab Emirates ($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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