Australia: Ghee Market 2024

Ghee Market Size in Australia

The Australian ghee market surged to $X in 2022, growing by 50% against the previous year. Over the period under review, consumption posted a significant increase. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Ghee Production in Australia

In value terms, ghee production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 47% against the previous year. Ghee production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Ghee Exports

Exports from Australia

In 2022, the amount of ghee exported from Australia reduced to X tons, with a decrease of -14% on 2021 figures. Overall, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2021 when exports increased by 60% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ghee exports amounted to $X in 2022. Over the period under review, exports recorded a perceptible decline. The growth pace was the most rapid in 2021 with an increase of 92%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X tons) was the main destination for ghee exports from Australia, accounting for a 51% share of total exports. Moreover, ghee exports to Thailand exceeded the volume sent to the second major destination, Kuwait (X tons), threefold. The third position in this ranking was taken by Mexico (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand stood at +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-2.8% per year) and Mexico (-6.7% per year).

In value terms, Thailand ($X) remains the key foreign market for ghee exports from Australia, comprising 56% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 15% share of total exports. It was followed by Mexico, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Thailand stood at +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+2.1% per year) and Mexico (-6.1% per year).

Export Prices by Country

In 2022, the average ghee export price amounted to $X per ton, rising by 17% against the previous year. Overall, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.6% 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 +49.5% against 2019 indices. The growth pace was the most rapid in 2017 when the average export price increased by 48% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Fiji ($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 the United States (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into Australia

In 2022, ghee imports into Australia skyrocketed to X tons, surging by 23% on the year before. In general, imports showed prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 56% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, ghee imports surged to $X in 2022. Over the period under review, imports saw a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest ghee supplier to Australia, with a 83% share of total imports. Moreover, ghee imports from New Zealand exceeded the figures recorded by the second-largest supplier, India (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand totaled +10.1%.

In value terms, New Zealand ($X) constituted the largest supplier of ghee to Australia, comprising 80% of total imports. The second position in the ranking was held by India ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value from New Zealand totaled +19.3%.

Import Prices by Country

The average ghee import price stood at $X per ton in 2022, with an increase of 31% against the previous year. In general, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the average import price increased by 47% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($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 India (+8.4%).

Source: IndexBox Platform

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