Peru: Butter And Ghee Market 2024

Butter And Ghee Market Size in Peru

The Peruvian butter and ghee market skyrocketed to $X in 2022, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Butter And Ghee Exports

Exports from Peru

In 2022, shipments abroad of butter and ghee was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports continue to indicate a notable increase. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, butter and ghee exports skyrocketed to $X in 2022. Overall, exports recorded a resilient expansion. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X tons) was the main destination for butter and ghee exports from Peru, accounting for a X% share of total exports. Moreover, butter and ghee exports to Ecuador exceeded the volume sent to the second major destination, Singapore (X tons), ninefold.

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

In value terms, Ecuador ($X) emerged as the key foreign market for butter and ghee exports from Peru, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Chile (X% per year).

Export Prices by Country

In 2022, the average butter and ghee export price amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Chile ($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 Bolivia (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Butter And Ghee Imports

Imports into Peru

In 2022, the amount of butter and ghee imported into Peru expanded significantly to X tons, picking up by X% against 2021 figures. In general, total imports indicated a tangible increase from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, butter and ghee imports skyrocketed to $X in 2022. Over the period under review, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest butter and ghee supplier to Peru, accounting for a X% share of total imports. Moreover, butter and ghee imports from New Zealand exceeded the figures recorded by the second-largest supplier, Argentina (X tons), sixfold. Uruguay (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 New Zealand totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Uruguay (X% per year).

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

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

Import Prices by Country

In 2022, the average butter and ghee import price amounted to $X per ton, rising by X% against the previous year. Over the period under review, import price indicated pronounced 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, butter and ghee import price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 an increase of X%. The import price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Uruguay ($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 UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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