China: Ghee Market 2025

Ghee Market Size in China

The Chinese ghee market surged to $X in 2022, jumping by 40% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a strong expansion. Ghee consumption peaked in 2022 and is likely to continue growth in years to come.

Ghee Exports

Exports from China

In 2022, shipments abroad of ghee increased by 28% to X tons, rising for the second year in a row after three years of decline. Overall, exports saw a significant increase. The growth pace was the most rapid in 2013 with an increase of 2,247% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, ghee exports surged to $X in 2022. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 1,760%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The Philippines (X tons) was the main destination for ghee exports from China, with a 61% share of total exports. Moreover, ghee exports to the Philippines exceeded the volume sent to the second major destination, Guatemala (X tons), threefold. Thailand (X tons) ranked third in terms of total exports with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Philippines stood at +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+28.3% per year) and Thailand (-50.0% per year).

In value terms, the Philippines ($X) remains the key foreign market for ghee exports from China, comprising 59% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 20% share of total exports. It was followed by Thailand, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value to the Philippines totaled +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+29.8% per year) and Thailand (-36.3% per year).

Export Prices by Country

In 2022, the average ghee export price amounted to $X per ton, standing approx. at the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 27% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Guatemala ($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 Thailand (+27.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into China

In 2022, the amount of ghee imported into China skyrocketed to X tons, picking up by 24% compared with the previous year. In general, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2014 when imports increased by 54% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, ghee imports soared to $X in 2022. Overall, imports posted a remarkable increase. The pace of growth appeared the most rapid in 2017 when imports increased by 112%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, New Zealand (X tons) was the main supplier of ghee to China, accounting for a 96% share of total imports. It was followed by Belgium (X tons), with a 1.4% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from New Zealand stood at +5.4%.

In value terms, New Zealand ($X) constituted the largest supplier of ghee to China, comprising 94% of total imports. The second position in the ranking was held by Belgium ($X), with a 2.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand amounted to +10.9%.

Import Prices by Country

In 2022, the average ghee import price amounted to $X per ton, growing by 23% against the previous year. Overall, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee import price increased by +31.4% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 51%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($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 New Zealand (+5.1%).

Source: IndexBox Platform

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