Portugal: Butter And Ghee Market 2024

Butter And Ghee Market Size in Portugal

The Portuguese butter and ghee market was finally on the rise to reach $X in 2022, after three years of decline. Over the period under review, consumption showed resilient growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Butter And Ghee Production in Portugal

In value terms, butter and ghee production shrank slightly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Butter and ghee production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Butter And Ghee Exports

Exports from Portugal

In 2022, the amount of butter and ghee exported from Portugal dropped sharply to X tons, waning by X% compared with 2021 figures. Over the period under review, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, butter and ghee exports shrank notably to $X in 2022. In general, exports showed a noticeable reduction. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

France (X tons), Spain (X tons) and the Netherlands (X tons) were the main destinations of butter and ghee exports from Portugal, with a combined X% share of total exports. Morocco, Saudi Arabia, Angola, Cuba, Belgium and Germany lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Cuba (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and Spain ($X) constituted the largest markets for butter and ghee exported from Portugal worldwide, together accounting for X% of total exports. Morocco, Saudi Arabia, Angola, Cuba, Germany and Belgium lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

In 2022, the average butter and ghee export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, export price indicated buoyant 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 export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to Belgium ($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 And Ghee Imports

Imports into Portugal

In 2022, supplies from abroad of butter and ghee increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a mild setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, butter and ghee imports soared to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of butter and ghee to Portugal, accounting for a X% share of total imports. Moreover, butter and ghee imports from Spain exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. France (X tons) ranked third in terms of total imports with an X% share.

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

In value terms, the largest butter and ghee suppliers to Portugal were Spain ($X), Belgium ($X) and France ($X), together comprising X% of total imports. Germany, Finland and the Netherlands lagged somewhat behind, together comprising a further X%.

Finland, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average butter and ghee import price amounted to $X per ton, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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