Thailand: Butter Market Overview 2021

Butter Market Size in Thailand

For the third consecutive year, the Thai butter market recorded growth in sales value, which increased by X% to $X in 2019. In general, consumption continues to indicate a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of X% year-to-year. Over the period under review, the market hit record highs in 2019 and is likely to see gradual growth in years to come.

Butter Production in Thailand

In value terms, butter production surged to $X in 2019 estimated in export prices. Over the period under review, production recorded a prominent expansion. The most prominent rate of growth was recorded in 2011 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level in 2019 and is likely to continue growth in the immediate term.

Butter Exports

Exports from Thailand

In 2019, approx. X tonnes of butter were exported from Thailand; waning by -X% against the previous year's figure. Overall, exports continue to indicate a dramatic downturn. The growth pace was the most rapid in 2009 with an increase of X% against the previous year. Exports peaked at X tonnes in 2010; however, from 2011 to 2019, exports remained at a lower figure.

In value terms, butter exports fell notably to $X in 2019. Over the period under review, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2009 with an increase of X% against the previous year. Exports peaked at $X in 2015; however, from 2016 to 2019, exports failed to regain the momentum.

Exports by Country

Myanmar (X kg), Cambodia (X kg) and the Philippines (X kg) were the main destinations of butter exports from Thailand, with a combined X% share of total exports.

From 2007 to 2019, the biggest increases were in Cambodia, while shipments for the other leaders experienced a decline.

In value terms, the largest markets for butter exported from Thailand were the Philippines ($X), Cambodia ($X) and Myanmar ($X), with a combined X% share of total exports.

Cambodia recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average butter export price stood at $X per tonne in 2019, falling by -X% against the previous year. In general, the export price, however, recorded tangible growth. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. The export price peaked at $X per tonne in 2017; however, from 2018 to 2019, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was the Philippines ($X per tonne), while the average price for exports to Myanmar ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines, while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Thailand

For the fifth consecutive year, Thailand recorded growth in supplies from abroad of butter, which increased by X% to X tonnes in 2019. Over the period under review, imports recorded resilient growth. The pace of growth was the most pronounced in 2015 with an increase of X% year-to-year. Over the period under review, imports hit record highs in 2019 and are likely to continue growth in years to come.

In value terms, butter imports declined slightly to $X in 2019. Overall, imports saw a prominent increase. The pace of growth appeared the most rapid in 2008 when imports increased by X% y-o-y. Over the period under review, imports reached the maximum at $X in 2018, and then declined modestly in the following year.

Imports by Country

New Zealand (X tonnes), France (X tonnes) and Belgium (X tonnes) were the main suppliers of butter imports to Thailand, with a combined X% share of total imports.

From 2007 to 2019, the biggest increases were in Belgium, while purchases for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), France ($X) and Belgium ($X) were the largest butter suppliers to Thailand, together accounting for X% of total imports.

In terms of the main suppliers, Belgium recorded the highest rates of growth with regard to 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

The average butter import price stood at $X per tonne in 2019, falling by -X% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, butter import price increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per tonne in 2011; however, from 2012 to 2019, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2019, the countries with the highest prices were Denmark ($X per tonne) and France ($X per tonne), while the price for Australia ($X per tonne) and Belgium ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by New Zealand, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for butter in the world?

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The countries with the highest volumes of butter consumption in 2019 were the U.S. (934K tonnes), Germany (495K tonnes) and France (463K tonnes), with a combined 34% share of global consumption. Russia, New Zealand, Turkey, Iran, the UK, China, Canada, Poland, Brazil and Italy lagged somewhat behind, together comprising a further 34%.

What are the largest producers of butter in the world?

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The countries with the highest volumes of butter production in 2019 were the U.S. (913K tonnes), New Zealand (510K tonnes) and Germany (488K tonnes), with a combined 34% share of global production. France, Ireland, Russia, Turkey, Iran, Poland, the Netherlands, the UK, Canada and Belarus lagged somewhat behind, together accounting for a further 36%.

What are the leading suppliers of butter to Thailand?

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In value terms, the largest butter suppliers to Thailand were New Zealand ($6.7M), France ($4.2M) and Belgium ($797K), with a combined 91% share of total imports.

What are the leading importers of butter from Thailand?

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In value terms, the Philippines ($2.1K), Cambodia ($1.5K) and Myanmar ($803) were the largest markets for butter exported from Thailand worldwide, with a combined 77% share of total exports.

What is the average export price for butter in Thailand?

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The average butter export price stood at $3,641 per tonne in 2019, shrinking by -14.9% against the previous year.

What is the average import price for butter in Thailand?

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In 2019, the average butter import price amounted to $5,581 per tonne, shrinking by -10.9% against the previous year.