Nepal: Cheese And Curd Market 2024

Cheese And Curd Market Size in Nepal

The Nepalese cheese and curd market contracted slightly to $X in 2022, which is down by -2% against the previous year. In general, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.1% against 2020 indices. Cheese and curd consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Cheese And Curd Production in Nepal

In value terms, cheese and curd production fell modestly to $X in 2022 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.5% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 38%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Cheese And Curd Exports

Exports from Nepal

In 2022, the amount of cheese and curd exported from Nepal stood at X tons, picking up by 6% on the year before. In general, exports recorded prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 176% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, cheese and curd exports expanded rapidly to $X in 2022. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2013 with an increase of 373%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons), China (X tons) and the United States (X tons) were the main destinations of cheese and curd exports from Nepal, with a combined 81% share of total exports. India, South Korea and Hong Kong SAR lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +100.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) emerged as the key foreign market for cheese and curd exports from Nepal, comprising 59% of total exports. The second position in the ranking was taken by the United States ($X), with a 21% share of total exports. It was followed by China, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled +56.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+48.6% per year) and China (+104.2% per year).

Export Prices by Country

The average cheese and curd export price stood at $X per ton in 2022, increasing by 5.3% against the previous year. Over the period under review, the export price posted prominent growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 80% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($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 Japan (+32.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into Nepal

In 2022, after five years of growth, there was significant decline in purchases abroad of cheese and curd, when their volume decreased by -11.1% to X tons. Over the period under review, imports, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 79%. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, cheese and curd imports declined to $X in 2022. In general, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2017 when imports increased by 118% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest cheese and curd supplier to Nepal, with a 63% share of total imports. Moreover, cheese and curd imports from India exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. Denmark (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+11.4% per year) and Denmark (+2.7% per year).

In value terms, India ($X) constituted the largest supplier of cheese and curd to Nepal, comprising 69% of total imports. The second position in the ranking was taken by Singapore ($X), with a 15% share of total imports. It was followed by Denmark, with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to +24.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+9.2% per year) and Denmark (-2.2% per year).

Import Prices by Country

In 2022, the average cheese and curd import price amounted to $X per ton, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 22% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

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 Australia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform