Bangladesh: Dairy Spread Market 2024

Dairy Spread Market Size in Bangladesh

The Bangladeshi dairy spread market reduced slightly to $X in 2022, standing approx. at the previous year. Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 -4.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Dairy Spread Production in Bangladesh

In value terms, dairy spread production shrank to $X in 2022 estimated in export price. Overall, the total production indicated a noticeable increase from 2012 to 2022: its value 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, production decreased by -5.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 74%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Dairy Spread Exports

Exports from Bangladesh

In 2022, shipments abroad of dairy spreads decreased by -20% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 253% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped significantly in the following year.

In value terms, dairy spread exports rose significantly to $X in 2022. Over the period under review, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2020 when exports increased by 202%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for dairy spread exports from Bangladesh, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +21.2%.

In value terms, the United States ($X) also remains the key foreign market for dairy spreads exports from Bangladesh.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +18.4%.

Export Prices by Country

The average dairy spread export price stood at $X per ton in 2022, surging by 35% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced slump. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -2.3% per year.

Dairy Spread Imports

Imports into Bangladesh

Dairy spread imports into Bangladesh soared to X tons in 2022, with an increase of 23% compared with the previous year's figure. Overall, imports recorded a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 10,982%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, dairy spread imports dropped slightly to $X in 2022. In general, imports showed a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 8,259%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of dairy spread to Bangladesh, accounting for a 70% share of total imports. Moreover, dairy spread imports from Australia exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia totaled +68.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+96.7% per year) and the United Arab Emirates (+32.0% per year).

In value terms, the largest dairy spread suppliers to Bangladesh were Singapore ($X), Australia ($X) and the United Arab Emirates ($X), with a combined 99.9% share of total imports.

In terms of the main suppliers, Singapore, with a CAGR of +85.9%, saw the highest rates of growth with regard to 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

In 2022, the average dairy spread import price amounted to $X per ton, declining by -19.3% against the previous year. In general, the import price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when the average import price increased by 40% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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