China: Butter And Ghee Market 2024

Butter And Ghee Market Size in China

For the third year in a row, the Chinese butter and ghee market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption showed a strong increase. Butter and ghee consumption peaked in 2022 and is expected to retain growth in the immediate term.

Butter And Ghee Exports

Exports from China

In 2022, butter and ghee exports from China skyrocketed to X tons, rising by X% against 2021 figures. Over the period under review, exports, however, saw a mild reduction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, butter and ghee exports soared to $X in 2022. In general, exports posted a mild expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

The Philippines (X tons) was the main destination for butter and ghee exports from China, accounting for a X% share of total exports. Moreover, butter and ghee exports to the Philippines exceeded the volume sent to the second major destination, Democratic People's Republic of Korea (X tons), threefold. Hong Kong SAR (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to the Philippines amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic People's Republic of Korea (X% per year) and Hong Kong SAR (X% per year).

In value terms, the Philippines ($X) remains the key foreign market for butter and ghee exports from China, comprising X% of total exports. The second position in the ranking was taken by Democratic People's Republic of Korea ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the Philippines stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic People's Republic of Korea (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the average butter and ghee export price amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 an increase of X%. The export price peaked at $X per ton in 2017; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Democratic People's Republic of Korea ($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 South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into China

In 2022, imports of butter and ghee into China reached X tons, growing by X% compared with the previous year. Overall, imports recorded a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, butter and ghee imports soared to $X in 2022. In general, imports showed a resilient increase. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest butter and ghee supplier to China, with a X% share of total imports. Moreover, butter and ghee imports from New Zealand exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold. The third position in this ranking was held by Australia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Australia (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter and ghee to China, comprising X% of total imports. The second position in the ranking was taken by France ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Belgium (X% per year).

Import Prices by Country

The average butter and ghee import price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and ghee import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Australia ($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 Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :