Luxembourg: Butter Market 2024

Butter Market Size in Luxembourg

For the eighth consecutive year, the Luxembourg butter market recorded growth in sales value, which increased by 1.5% to $X in 2022. Over the period under review, consumption, however, continues to indicate a buoyant expansion. Butter consumption peaked in 2022 and is expected to retain growth in the near future.

Butter Production in Luxembourg

In value terms, butter production expanded to $X in 2022 estimated in export price. Overall, production showed buoyant growth. The pace of growth appeared the most rapid in 2014 with an increase of 125%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Butter Exports

Exports from Luxembourg

In 2022, approx. X tons of butter were exported from Luxembourg; picking up by 57% on 2021. Overall, exports, however, showed a perceptible decrease. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, butter exports soared to $X in 2022. In general, exports enjoyed modest growth. The pace of growth appeared the most rapid in 2021 with an increase of 89% against the previous year. 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

Germany (X tons) was the main destination for butter exports from Luxembourg, accounting for a 71% share of total exports. Moreover, butter exports to Germany exceeded the volume sent to the second major destination, Belgium (X tons), threefold. The third position in this ranking was held by Austria (X tons), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-0.8% per year) and Austria (+206.7% per year).

In value terms, Germany ($X) remains the key foreign market for butter exports from Luxembourg, comprising 75% of total exports. The second position in the ranking was taken by Belgium ($X), with a 20% share of total exports. It was followed by Austria, with a 3% share.

From 2012 to 2022, the average annual growth rate of value to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+2.9% per year) and Austria (+227.1% per year).

Export Prices by Country

In 2022, the average butter export price amounted to $X per ton, surging by 11% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.4% 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 +33.9% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 30% against the previous year. The export price peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Germany ($X per ton) and France ($X per ton), while the average price for exports to Austria ($X per ton) and Belgium ($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 Austria (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Luxembourg

Butter imports into Luxembourg skyrocketed to X tons in 2022, rising by 30% compared with 2021. Overall, imports, however, continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2018 with an increase of 33% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, butter imports surged to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 42%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, France (X tons) constituted the largest butter supplier to Luxembourg, with a 68% share of total imports. Moreover, butter imports from France exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France stood at -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+5.5% per year) and Germany (+7.5% per year).

In value terms, France ($X) constituted the largest supplier of butter to Luxembourg, comprising 74% of total imports. The second position in the ranking was held by Belgium ($X), with an 18% share of total imports. It was followed by Germany, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France amounted to -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+5.4% per year) and Germany (+5.5% per year).

Import Prices by Country

In 2022, the average butter import price amounted to $X per ton, with an increase of 7.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 34% 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.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from France ($X per ton) and Germany ($X per ton), while the price for Portugal ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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