Australia: Cream Fresh Market 2024

Cream Fresh Market Size in Australia

In 2022, the Australian cream fresh market decreased by -6.8% to $X, falling for the third consecutive year after five years of growth. Over the period under review, the total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -22.5% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Cream Fresh Production in Australia

In value terms, cream fresh production dropped modestly to $X in 2022 estimated in export price. In general, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 30% against the previous year. Cream fresh production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Cream Fresh Exports

Exports from Australia

In 2022, shipments abroad of cream fresh increased by 23% to X tons, rising for the third year in a row after three years of decline. In general, exports recorded a perceptible expansion. The pace of growth was the most pronounced in 2021 when exports increased by 66% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cream fresh exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +70.5% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of 41%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China (X tons) was the main destination for cream fresh exports from Australia, accounting for a 46% share of total exports. Moreover, cream fresh exports to China exceeded the volume sent to the second major destination, South Korea (X tons), fourfold. American Samoa (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +38.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+3.6% per year) and American Samoa (+106.7% per year).

In value terms, China ($X) remains the key foreign market for cream fresh exports from Australia, comprising 54% of total exports. The second position in the ranking was held by South Korea ($X), with a 16% share of total exports. It was followed by Singapore, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value to China stood at +44.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+5.6% per year) and Singapore (-3.3% per year).

Export Prices by Country

The average cream fresh export price stood at $X per ton in 2022, stabilizing at the previous year. In general, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cream fresh export price decreased by -24.5% against 2018 indices. The growth pace was the most rapid in 2018 an increase of 31% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Guam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cream Fresh Imports

Imports into Australia

Cream fresh imports into Australia skyrocketed to X tons in 2022, jumping by 33% against 2021 figures. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% 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 +45.1% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cream fresh imports soared to $X in 2022. Overall, imports posted a buoyant expansion. The pace of growth was the most pronounced in 2017 when imports increased by 65%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, New Zealand (X tons) was the main cream fresh supplier to Australia, accounting for a 95% share of total imports. Moreover, cream fresh imports from New Zealand exceeded the figures recorded by the second-largest supplier, Mexico (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand totaled +4.4%.

In value terms, New Zealand ($X) constituted the largest supplier of cream fresh to Australia, comprising 94% of total imports. The second position in the ranking was taken by Mexico ($X), with a 3.6% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand totaled +9.3%.

Import Prices by Country

In 2022, the average cream fresh import price amounted to $X per ton, increasing by 22% against the previous year. In general, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cream fresh import price increased by +41.8% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 58%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for New Zealand amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+37.8%).

Source: IndexBox Platform

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