Uruguay: Butter And Ghee Market 2024

Butter And Ghee Market Size in Uruguay

In 2022, after two years of growth, there was significant decline in the Uruguayan butter and ghee market, when its value decreased by X% to $X. Overall, consumption, however, showed significant growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Butter And Ghee Production in Uruguay

In value terms, butter and ghee production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

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Butter And Ghee Exports

Exports from Uruguay

In 2022, butter and ghee exports from Uruguay skyrocketed to X tons, increasing by X% compared with 2021. Over the period under review, exports, however, showed a abrupt decrease. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter and ghee exports soared to $X in 2022. In general, exports, however, saw a mild descent. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons), Bahrain (X tons) and Egypt (X tons) were the main destinations of butter and ghee exports from Uruguay, with a combined X% share of total exports. Brazil, Saudi Arabia, Georgia, Morocco, South Africa, China, Chile, Peru and Algeria 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 Chile (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Egypt ($X) and Bahrain ($X) appeared to be the largest markets for butter and ghee exported from Uruguay worldwide, with a combined X% share of total exports. Brazil, Saudi Arabia, Morocco, South Africa, Georgia, China, Chile, Peru and Algeria lagged somewhat behind, together comprising a further X%.

Chile, 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, picking up by X% against the previous year. In general, export price indicated notable 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 pace of growth appeared the most rapid 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 years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Brazil ($X per ton) and Algeria ($X per ton), while the average price for exports to Georgia ($X per ton) and Russia ($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 Iran (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into Uruguay

In 2022, approx. X tons of butter and ghee were imported into Uruguay; picking up by X% compared with the previous year. Over the period under review, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, butter and ghee imports skyrocketed to $X in 2022. Overall, imports saw resilient growth. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Brazil (X tons) and Argentina (X tons) were the main suppliers of butter and ghee imports to Uruguay.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of X%).

In value terms, Brazil ($X) and Argentina ($X) appeared to be the largest butter and ghee suppliers to Uruguay.

Among the main suppliers, Argentina, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average butter and ghee import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Brazil stood at $X per ton.

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

Source: IndexBox Platform

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