Egypt: Butter Market 2024

Butter Market Size in Egypt

The Egyptian butter market expanded slightly to $X in 2022, rising by 3% against the previous year. Over the period under review, consumption saw a pronounced slump. Butter consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Butter Production in Egypt

In value terms, butter production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, saw a mild contraction. The growth pace was the most rapid in 2018 when the production volume increased by 215% against the previous year. Butter production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Butter Exports

Exports from Egypt

In 2022, overseas shipments of butter were finally on the rise to reach X tons after two years of decline. Overall, exports showed a pronounced expansion. The growth pace was the most rapid in 2018 with an increase of 2,830%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, butter exports soared to $X in 2022. Over the period under review, exports saw a notable increase. The pace of growth was the most pronounced in 2018 with an increase of 3,976% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Libya (X tons) was the main destination for butter exports from Egypt, accounting for a 68% share of total exports. Moreover, butter exports to Libya exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 0.9% share.

From 2012 to 2022, the average annual growth rate of volume to Libya amounted to +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-12.6% per year) and the United Arab Emirates (-2.9% per year).

In value terms, the largest markets for butter exported from Egypt were the United States ($X), Libya ($X) and Lebanon ($X), together comprising 97% of total exports. The United Arab Emirates lagged somewhat behind, accounting for a further 0.7%.

The United Arab Emirates, with a CAGR of +3.6%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average butter export price amounted to $X per ton, increasing by 3.4% against the previous year. In general, the export price, however, continues to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 51% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Libya ($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 Kuwait (+28.0%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Egypt

In 2022, butter imports into Egypt declined to X tons, shrinking by -11.9% on 2021. Over the period under review, imports saw a deep contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 32% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, butter imports skyrocketed to $X in 2022. In general, imports continue to indicate a perceptible contraction. The growth pace was the most rapid in 2018 with an increase of 38% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of butter to Egypt, accounting for a 39% share of total imports. Moreover, butter imports from New Zealand exceeded the figures recorded by the second-largest supplier, Uruguay (X tons), threefold. The third position in this ranking was held by Turkey (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from New Zealand totaled -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (+7.5% per year) and Turkey (+68.1% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter to Egypt, comprising 39% of total imports. The second position in the ranking was taken by Uruguay ($X), with a 15% share of total imports. It was followed by Turkey, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand stood at -8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (+9.6% per year) and Turkey (+71.4% per year).

Import Prices by Country

The average butter import price stood at $X per ton in 2022, growing by 36% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 +53.7% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 78%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Uganda ($X per ton) and India ($X per ton), while the price for Uruguay ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uganda (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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