Australia and Oceania: Ghee Market 2024

Ghee Market Size in Australia and Oceania

In 2022, the ghee market in Australia and Oceania decreased by -80.1% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption recorded a perceptible reduction. Over the period under review, the market hit record highs at $X in 2021, and then dropped rapidly in the following year.

Ghee Production in Australia and Oceania

In value terms, ghee production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of ghee production was New Zealand (X tons), accounting for 97% of total volume. Moreover, ghee production in New Zealand exceeded the figures recorded by the second-largest producer, Australia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in New Zealand stood at +1.2%.

Ghee Exports

Exports in Australia and Oceania

In 2022, shipments abroad of ghee was finally on the rise to reach X tons after three years of decline. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ghee exports surged to $X in 2022. Over the period under review, exports continue to indicate a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

New Zealand prevails in exports structure, recording X tons, which was approx. 98% of total exports in 2022. Australia (X tons) followed a long way behind the leaders.

New Zealand was also the fastest-growing in terms of the ghee exports, with a CAGR of +2.6% from 2012 to 2022. Australia (-7.4%) illustrated a downward trend over the same period. While the share of New Zealand (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Australia (-3.2 p.p.) displayed negative dynamics.

In value terms, New Zealand ($X) remains the largest ghee supplier in Australia and Oceania, comprising 98% of total exports. The second position in the ranking was held by Australia ($X), with a 1.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value in New Zealand amounted to +9.2%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, picking up by 17% against the previous year. Export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee export price increased by +30.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by 59% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+6.4%).

Ghee Imports

Imports in Australia and Oceania

In 2022, imports of ghee in Australia and Oceania soared to X tons, picking up by 23% against the previous year's figure. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.6% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 43%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, ghee imports skyrocketed to $X in 2022. Overall, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2017 when imports increased by 58% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Australia prevails in imports structure, reaching X tons, which was approx. 92% of total imports in 2022. It was distantly followed by Fiji (X tons), making up a 6.1% share of total imports. New Zealand (X tons) followed a long way behind the leaders.

Australia was also the fastest-growing in terms of the ghee imports, with a CAGR of +8.8% from 2012 to 2022. At the same time, New Zealand (+8.2%) and Fiji (+1.6%) displayed positive paces of growth. While the share of Australia (+9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Fiji (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported ghee in Australia and Oceania, comprising 92% of total imports. The second position in the ranking was held by Fiji ($X), with a 5.4% share of total imports.

In Australia, ghee imports increased at an average annual rate of +17.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Fiji (+4.5% per year) and New Zealand (+12.3% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, increasing by 28% against the previous year. Import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the import price increased by 48% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Fiji ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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