Lithuania: Butter And Ghee Market 2024

Butter And Ghee Market Size in Lithuania

The Lithuanian butter and ghee market soared to $X in 2022, growing by X% against the previous year. Overall, consumption recorded a prominent increase. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the near future.

Butter And Ghee Production in Lithuania

In value terms, butter and ghee production fell slightly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Butter and ghee production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Butter And Ghee Exports

Exports from Lithuania

In 2022, the amount of butter and ghee exported from Lithuania contracted rapidly to X tons, dropping by X% against the previous year's figure. In general, exports continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, butter and ghee exports rose markedly to $X in 2022. Overall, exports, however, posted a noticeable expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) was the main destination for butter and ghee exports from Lithuania, accounting for a X% share of total exports. Moreover, butter and ghee exports to Saudi Arabia exceeded the volume sent to the second major destination, Latvia (X tons), fourfold. Poland (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Poland (X% per year).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for butter and ghee exports from Lithuania, comprising X% of total exports. The second position in the ranking was held by Latvia ($X), with a X% share of total exports. It was followed by Poland, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Poland (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. In general, export price indicated pronounced growth 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. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Poland ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into Lithuania

For the seventh year in a row, Lithuania recorded growth in purchases abroad of butter and ghee, which increased by X% to X tons in 2022. Overall, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, butter and ghee imports surged to $X in 2022. In general, imports showed a buoyant increase. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of butter and ghee to Lithuania, with a X% share of total imports. Moreover, butter and ghee imports from Poland exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. Ukraine (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Ukraine (X.7% per year).

In value terms, Poland ($X) constituted the largest supplier of butter and ghee to Lithuania, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by Ukraine, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Ukraine (X.8% per year).

Import Prices by Country

In 2022, the average butter and ghee import price amounted to $X per ton, rising by X% against the previous year. In general, import price indicated a moderate 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 was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for France ($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