Africa: Butter Market 2024

Butter Market Size in Africa

The African butter market totaled $X in 2022, approximately equating the previous year. Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Butter Production in Africa

In value terms, butter production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 26% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Butter Exports

Exports in Africa

In 2022, approx. X tons of butter were exported in Africa; with a decrease of -21.5% compared with 2021 figures. Over the period under review, exports recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by 57% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, butter exports fell to $X in 2022. Total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +9.5% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 47% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa was the main exporting country with an export of about X tons, which reached 64% of total exports. Uganda (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Egypt (5.5%). The following exporters - Tunisia (X tons), Mauritius (X tons), Benin (X tons), Namibia (X tons), Ghana (X tons), Angola (X tons) and Algeria (X tons) - each resulted at a 13% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to butter exports from South Africa stood at -2.9%. At the same time, Mauritius (+50.9%), Angola (+30.1%), Uganda (+22.4%), Algeria (+13.3%), Namibia (+6.0%), Egypt (+3.9%) and Tunisia (+2.2%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing exporter exported in Africa, with a CAGR of +50.9% from 2012-2022. By contrast, Ghana (-2.8%) and Benin (-24.8%) illustrated a downward trend over the same period. While the share of Uganda (+9.8 p.p.), South Africa (+4.7 p.p.), Egypt (+2.9 p.p.), Mauritius (+2 p.p.) and Angola (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Benin (-22.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest butter supplier in Africa, comprising 67% of total exports. The second position in the ranking was held by Uganda ($X), with a 14% share of total exports. It was followed by Egypt, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at +2.5%. In the other countries, the average annual rates were as follows: Uganda (+32.7% per year) and Egypt (+2.4% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, growing by 12% against the previous year. Export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter export price increased by +12.6% against 2018 indices. The pace of growth appeared the most rapid in 2016 when the export price increased by 41%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Uganda ($X per ton), while Angola ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+8.5%), while the other leaders experienced more modest paces of growth.

Butter Imports

Imports in Africa

In 2022, the amount of butter imported in Africa dropped slightly to X tons, waning by -4% against 2021 figures. Over the period under review, imports showed a pronounced curtailment. The growth pace was the most rapid in 2020 with an increase of 17%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, butter imports expanded notably to $X in 2022. In general, imports showed a slight curtailment. The growth pace was the most rapid in 2018 with an increase of 16% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Morocco (X tons) and Egypt (X tons) represented roughly 56% of total imports in 2022. South Africa (X tons) held the next position in the ranking, followed by Burkina Faso (X tons). All these countries together held approx. 12% share of total imports. The following importers - Algeria (X tons), Libya (X tons), Mauritania (X tons), Cote d'Ivoire (X tons), Mauritius (X tons) and Tunisia (X tons) - together made up 14% of total imports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +39.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Morocco ($X) and South Africa ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 71% of total imports. Mauritius, Cote d'Ivoire, Algeria, Libya, Tunisia, Burkina Faso and Mauritania lagged somewhat behind, together comprising a further 13%.

In terms of the main importing countries, Burkina Faso, with a CAGR of +20.7%, recorded the highest growth rate of 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 import price in Africa stood at $X per ton in 2022, with an increase of 14% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2017 when the import price increased by 55%. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mauritius ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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