Peru: Butter And Ghee Market 2024

Butter And Ghee Market Size in Peru

The Peruvian butter and ghee market soared to $X in 2022, jumping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a strong increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Butter And Ghee Exports

Exports from Peru

In 2022, shipments abroad of butter and ghee was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports continue to indicate a resilient increase. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter and ghee exports surged to $X in 2022. Overall, exports saw resilient growth. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for butter and ghee exports from Peru, with a X% share of total exports. Moreover, butter and ghee exports to Ecuador exceeded the volume sent to the second major destination, Singapore (X tons), ninefold.

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

In value terms, Ecuador ($X) emerged as the key foreign market for butter and ghee exports from Peru, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Ecuador totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Chile (X% per year).

Export Prices by Country

The average butter and ghee export price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Chile ($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 Bolivia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Butter And Ghee Imports

Imports into Peru

In 2022, the amount of butter and ghee imported into Peru was estimated at X tons, rising by X% on 2021. In general, total imports indicated a tangible expansion from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, butter and ghee imports surged to $X in 2022. Over the period under review, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest butter and ghee supplier to Peru, with a X% share of total imports. Moreover, butter and ghee imports from New Zealand exceeded the figures recorded by the second-largest supplier, Argentina (X tons), sixfold. Uruguay (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 New Zealand totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Uruguay (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Uruguay (X% per year).

Import Prices by Country

In 2022, the average butter and ghee import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, import price indicated a measured 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 growth pace was the most rapid in 2017 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 the UK ($X per ton), while the price for Uruguay ($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 UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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