SADC: Butter Market 2024

Butter Market Size in SADC

The SADC butter market expanded significantly to $X in 2022, with an increase of 5.1% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Butter Production in SADC

In value terms, butter production rose rapidly to $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 -9.2% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 58%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Butter Exports

Exports in SADC

In 2022, approx. X tons of butter were exported in SADC; growing by 6.3% on 2021 figures. In general, exports, however, recorded a pronounced decrease. The pace of growth was the most pronounced in 2014 with an increase of 88% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, butter exports stood at $X in 2022. Total exports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +17.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 69% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa prevails in exports structure, accounting for X tons, which was near 90% of total exports in 2022. The following exporters - Mauritius (X tons), Namibia (X tons) and Angola (X tons) - together made up 7.9% of total exports.

Exports from South Africa decreased at an average annual rate of -2.9% from 2012 to 2022. At the same time, Mauritius (+50.9%), Angola (+30.1%) and Namibia (+6.0%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing exporter exported in SADC, with a CAGR of +50.9% from 2012-2022. From 2012 to 2022, the share of Mauritius, South Africa, Angola and Namibia increased by +2.8, +2.5, +2.2 and +1.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest butter supplier in SADC, comprising 94% of total exports. The second position in the ranking was taken by Namibia ($X), with a 2.2% share of total exports. It was followed by Mauritius, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value in South Africa totaled +2.5%. In the other countries, the average annual rates were as follows: Namibia (+5.9% per year) and Mauritius (+42.1% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, picking up by 2.5% against the previous year. Export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% 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 +3.8% against 2019 indices. The growth pace was the most rapid in 2013 an increase of 43%. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Angola ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+5.5%), while the other leaders experienced a decline in the export price figures.

Butter Imports

Imports in SADC

In 2022, butter imports in SADC declined to X tons, waning by -5.3% against the previous year's figure. Overall, imports showed a pronounced decrease. The pace of growth appeared the most rapid in 2018 with an increase of 50%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, butter imports amounted to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 54% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

South Africa was the largest importing country with an import of around X tons, which resulted at 44% of total imports. Mauritius (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Angola (9.9%), Namibia (8.9%) and Democratic Republic of the Congo (5.2%). The following importers - Tanzania (X tons) and Mozambique (X tons) - each finished at an 8.2% share of total imports.

Imports into South Africa decreased at an average annual rate of -5.2% from 2012 to 2022. At the same time, Tanzania (+10.4%), Namibia (+7.1%) and Mauritius (+2.2%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing importer imported in SADC, with a CAGR of +10.4% from 2012-2022. Mozambique experienced a relatively flat trend pattern. By contrast, Angola (-1.9%) and Democratic Republic of the Congo (-6.6%) illustrated a downward trend over the same period. While the share of Mauritius (+5.6 p.p.), Namibia (+5.5 p.p.) and Tanzania (+3.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Democratic Republic of the Congo (-2.5 p.p.) and South Africa (-12.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported butter in SADC, comprising 43% of total imports. The second position in the ranking was taken by Mauritius ($X), with a 19% share of total imports. It was followed by Angola, with a 9.4% share.

In South Africa, butter imports decreased by an average annual rate of -1.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mauritius (+3.8% per year) and Angola (-4.5% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, rising by 5.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2017 when the import price increased by 36% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mauritius ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mozambique (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform