Central Asia: Butter Market 2024

Butter Market Size in Central Asia

The Central Asian butter market reduced slightly to $X in 2022, almost unchanged from the previous year. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.0% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Butter Production in Central Asia

In value terms, butter production dropped modestly to $X in 2022 estimated in export price. In general, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 64% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Butter Exports

Exports in Central Asia

In 2022, shipments abroad of butter increased by 4.2% to X tons, rising for the eighth year in a row after two years of decline. Over the period under review, exports recorded significant growth. The pace of growth was the most pronounced in 2015 when exports increased by 1,024%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, butter exports skyrocketed to $X in 2022. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 749% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Kyrgyzstan (X tons) and Kazakhstan (X tons) dominates exports structure, together achieving 98% of total exports. Uzbekistan (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of +63.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Kyrgyzstan ($X) and Uzbekistan ($X) constituted the countries with the highest levels of exports in 2022, together comprising 99.9% of total exports.

Uzbekistan, with a CAGR of +69.8%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, surging by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2013 when the export price increased by 32%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+7.2%), while the other leaders experienced mixed trends in the export price figures.

Butter Imports

Imports in Central Asia

In 2022, the amount of butter imported in Central Asia skyrocketed to X tons, jumping by 37% compared with the year before. Total imports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.4% 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 +85.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 57%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, butter imports skyrocketed to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value 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, imports increased by +97.4% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 87%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

In 2022, Kazakhstan (X tons) represented the major importer of butter, making up 65% of total imports. Uzbekistan (X tons) took the second position in the ranking, distantly followed by Turkmenistan (X tons). All these countries together held approx. 29% share of total imports. The following importers - Mongolia (X tons) and Tajikistan (X tons) - each reached a 6% share of total imports.

Kazakhstan experienced a relatively flat trend pattern with regard to volume of imports of butter. At the same time, Mongolia (+19.1%) and Uzbekistan (+8.6%) displayed positive paces of growth. Moreover, Mongolia emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +19.1% from 2012-2022. Turkmenistan experienced a relatively flat trend pattern. By contrast, Tajikistan (-4.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Uzbekistan and Mongolia increased by +21 and +2.8 percentage points, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported butter in Central Asia, comprising 64% of total imports. The second position in the ranking was held by Uzbekistan ($X), with a 23% share of total imports. It was followed by Turkmenistan, with an 8.5% share.

In Kazakhstan, butter imports expanded at an average annual rate of +2.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Uzbekistan (+19.1% per year) and Turkmenistan (+2.3% per year).

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per ton, with an increase of 8.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.5%. The most prominent rate of growth was recorded in 2013 when the import price increased by 26% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkmenistan ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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