Paraguay: Butter Market 2024

Butter Market Size in Paraguay

The Paraguayan butter market surged to $X in 2022, with an increase of 65% against the previous year. In general, consumption, however, recorded a abrupt downturn. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Butter Production in Paraguay

In value terms, butter production reached $X in 2022 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.6% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 63% against the previous year. Butter production peaked at $X in 2020; afterwards, it flattened through to 2022.

Butter Exports

Exports from Paraguay

For the third year in a row, Paraguay recorded growth in overseas shipments of butter, which increased by 22% to X tons in 2022. Overall, exports saw strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 119% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, butter exports skyrocketed to $X in 2022. In general, exports posted a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 320%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Georgia (X tons) was the main destination for butter exports from Paraguay, accounting for a 78% share of total exports. Moreover, butter exports to Georgia exceeded the volume sent to the second major destination, Saudi Arabia (X tons), tenfold. The third position in this ranking was taken by Syrian Arab Republic (X tons), with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Georgia stood at +45.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+16.7% per year) and Syrian Arab Republic (0.0% per year).

In value terms, Georgia ($X) emerged as the key foreign market for butter exports from Paraguay, comprising 80% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 7.6% share of total exports. It was followed by Syrian Arab Republic, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Georgia amounted to +51.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+18.9% per year) and Syrian Arab Republic (0.0% per year).

Export Prices by Country

The average butter export price stood at $X per ton in 2022, rising by 18% against the previous year. In general, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% 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 +43.2% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 92% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Georgia ($X per ton) and Saudi Arabia ($X per ton), while the average price for exports to Bolivia ($X per ton) and Syrian Arab Republic ($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 Morocco (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Paraguay

In 2022, the amount of butter imported into Paraguay soared to X tons, increasing by 91% compared with 2021 figures. Over the period under review, imports posted a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, butter imports soared to $X in 2022. In general, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +137.3% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Argentina (X tons), Russia (X tons) and Brazil (X tons) were the main suppliers of butter imports to Paraguay, together comprising 99.9% of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +34.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest butter suppliers to Paraguay were Argentina ($X), Russia ($X) and Brazil ($X).

In terms of the main suppliers, Brazil, with a CAGR of +29.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average butter import price stood at $X per ton in 2022, reducing by -1.6% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 30% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform