U.S.: Butter And Ghee Market Overview 2021

Butter And Ghee Market Size in the U.S.

After five years of growth, the U.S. butter and ghee market decreased by -X% to $X in 2019. Over the period under review, consumption continues to indicate a resilient increase. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. Butter and ghee consumption peaked at $X in 2018, and then fell modestly in the following year.

Butter And Ghee Production in the U.S.

In value terms, butter and ghee production reduced modestly to $X in 2019. In general, production recorded resilient growth. The pace of growth was the most pronounced in 2011 when the production volume increased by X% y-o-y. Over the period under review, production reached the peak level at $X in 2018, and then reduced in the following year.

Butter And Ghee Exports

Exports from the U.S.

In 2019, shipments abroad of butter and ghee decreased by -X% to X tonnes for the first time since 2016, thus ending a two-year rising trend. Over the period under review, exports saw a noticeable downturn. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. As a result, exports attained the peak of X tonnes. From 2009 to 2019, the growth exports failed to regain the momentum.

In value terms, butter and ghee exports fell markedly to $X in 2019. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure at $X in 2013; however, from 2014 to 2019, exports remained at a lower figure.

Exports by Country

Canada (X tonnes) was the main destination for butter and ghee exports from the U.S., accounting for a X% share of total exports. Moreover, butter and ghee exports to Canada exceeded the volume sent to the second major destination, Mexico (X tonnes), fourfold. The third position in this ranking was occupied by South Korea (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Canada stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-X% per year) and South Korea (+X% per year).

In value terms, Canada ($X) remains the key foreign market for butter and ghee exports from the U.S., comprising X% of total exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to Canada totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-X% per year) and South Korea (+X% per year).

Export Prices by Country

The average butter and ghee export price stood at $X per tonne in 2019, growing by X% against the previous year. Over the last twelve years, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2011 when the average export price increased by X% against the previous year. As a result, export price reached the peak level of $X per tonne. From 2012 to 2019, the growth in terms of the average export prices failed to regain the momentum.

There were significant differences in the average prices for the major foreign markets. In 2019, the country with the highest price was Saudi Arabia ($X per tonne), while the average price for exports to Colombia ($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 Saudi Arabia, while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into the U.S.

In 2019, imports of butter and ghee into the U.S. soared to X tonnes, rising by X% on the previous year. Overall, imports posted a strong expansion. The growth pace was the most rapid in 2014 when imports increased by X% y-o-y. Imports peaked in 2019 and are likely to see gradual growth in years to come.

In value terms, butter and ghee imports surged to $X in 2019. In general, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked in 2019 and are expected to retain growth in the immediate term.

Imports by Country

In 2019, Ireland (X tonnes) constituted the largest butter and ghee supplier to the U.S., with a X% share of total imports. Moreover, butter and ghee imports from Ireland exceeded the figures recorded by the second-largest supplier, New Zealand (X tonnes), threefold. The third position in this ranking was occupied by Mexico (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Ireland totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-X% per year) and Mexico (+X% per year).

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

From 2007 to 2019, the average annual growth rate of value from Ireland stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+X% per year) and New Zealand (+X% per year).

Import Prices by Country

In 2019, the average butter and ghee import price amounted to $X per tonne, approximately mirroring the previous year. In general, the import price, however, posted strong growth. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. The import price peaked at $X per tonne in 2018, and then reduced in the following year.

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

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

Source: IndexBox Platform