Czech Republic: Butter Market 2024

Butter Market Size in the Czech Republic

The Czech butter market contracted to $X in 2022, shrinking by -13.4% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Butter Production in the Czech Republic

In value terms, butter production contracted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 64% against the previous year. Butter production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Butter Exports

Exports from the Czech Republic

In 2022, the amount of butter exported from the Czech Republic surged to X tons, increasing by 36% on 2021. Over the period under review, exports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2019 when exports increased by 64% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, butter exports surged to $X in 2022. Overall, total exports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +154.7% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), Slovakia (X tons) and Poland (X tons) were the main destinations of butter exports from the Czech Republic, with a combined 68% share of total exports. Romania, Hungary, Lithuania, Spain and Bulgaria lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +331.5%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Slovakia ($X) and Romania ($X) were the largest markets for butter exported from the Czech Republic worldwide, together comprising 68% of total exports. Poland, Hungary, Lithuania, Spain and Bulgaria lagged somewhat behind, together comprising a further 25%.

Spain, with a CAGR of +354.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average butter export price stood at $X per ton in 2022, growing by 38% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.1% 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 +73.1% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 80% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Bulgaria ($X per ton) and Romania ($X per ton), while the average price for exports to Spain ($X per ton) and Poland ($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 (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into the Czech Republic

In 2022, purchases abroad of butter decreased by -11.6% to X tons, falling for the second year in a row after three years of growth. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 22% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, butter imports surged to $X in 2022. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 +49.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 47%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Poland (X tons) constituted the largest butter supplier to the Czech Republic, with a 62% share of total imports. Moreover, butter imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Belgium (X tons), with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland amounted to +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.2% per year) and Belgium (-2.5% per year).

In value terms, Poland ($X) constituted the largest supplier of butter to the Czech Republic, comprising 65% of total imports. The second position in the ranking was taken by Germany ($X), with a 20% share of total imports. It was followed by Belgium, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland totaled +19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.4% per year) and Belgium (+1.2% per year).

Import Prices by Country

In 2022, the average butter import price amounted to $X per ton, picking up by 39% against the previous year. Over the period under review, import price indicated a resilient increase 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, butter import price increased by +78.5% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 67%. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Poland ($X per ton) and Germany ($X per ton), while the price for Belgium ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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