Belarus: Butter Market 2024

Butter Market Size in Belarus

In 2022, the Belarusian butter market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a relatively flat trend pattern. Butter consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Butter Production in Belarus

In value terms, butter production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 -10.6% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 41%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Butter Exports

Exports from Belarus

In 2022, shipments abroad of butter decreased by -6.9% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when exports increased by 26%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, butter exports expanded remarkably to $X in 2022. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +8.1% 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 +40.0% against 2020 indices. The pace of growth was the most pronounced in 2016 when exports increased by 35%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Russia (X tons) was the main destination for butter exports from Belarus, with a 90% share of total exports. Moreover, butter exports to Russia exceeded the volume sent to the second major destination, Ukraine (X tons), more than tenfold. The third position in this ranking was taken by Azerbaijan (X tons), with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+10.2% per year) and Azerbaijan (+18.3% per year).

In value terms, Russia ($X) remains the key foreign market for butter exports from Belarus, comprising 90% of total exports. The second position in the ranking was held by Ukraine ($X), with a 4.8% share of total exports. It was followed by Azerbaijan, with a 2.3% share.

From 2012 to 2022, the average annual growth rate of value to Russia totaled +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+13.8% per year) and Azerbaijan (+23.5% per year).

Export Prices by Country

The average butter export price stood at $X per ton in 2022, surging by 20% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.0% 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 +10.5% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 43%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Kazakhstan ($X per ton) and Azerbaijan ($X per ton), while the average price for exports to Ukraine ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Belarus

In 2022, the amount of butter imported into Belarus fell rapidly to X tons, declining by -55% against 2021 figures. Overall, imports continue to indicate a precipitous shrinkage. The pace of growth appeared the most rapid in 2014 when imports increased by 217% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, butter imports reduced dramatically to $X in 2022. In general, imports continue to indicate a significant decline. The pace of growth was the most pronounced in 2019 when imports increased by 262% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Russia (X tons) was the main butter supplier to Belarus, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia stood at -25.5%.

In value terms, Russia ($X) constituted the largest supplier of butter to Belarus.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia stood at -23.9%.

Import Prices by Country

The average butter import price stood at $X per ton in 2022, waning by -13.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2019 an increase of 28%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Russia.

From 2012 to 2022, the rate of growth in terms of prices for Ukraine amounted to +34.7% per year.

Source: IndexBox Platform

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