Serbia: Butter And Ghee Market 2024

Butter And Ghee Market Size in Serbia

In 2022, after two years of decline, there was significant growth in the Serbian butter and ghee market, when its value increased by X% to $X. Overall, consumption posted significant growth. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Butter And Ghee Production in Serbia

In value terms, butter and ghee production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a tangible expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. Butter and ghee production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Butter And Ghee Exports

Exports from Serbia

In 2022, the amount of butter and ghee exported from Serbia shrank to X tons, dropping by X% on the previous year. Over the period under review, total exports indicated strong growth 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted in the following year.

In value terms, butter and ghee exports amounted to $X in 2022. Overall, total exports indicated a remarkable increase from 2012 to 2022: its value 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Montenegro (X tons), Bosnia and Herzegovina (X tons) and Croatia (X tons) were the main destinations of butter and ghee exports from Serbia, with a combined X% share of total exports. North Macedonia and Slovenia lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for butter and ghee exported from Serbia were Montenegro ($X), Bosnia and Herzegovina ($X) and Croatia ($X), with a combined X% share of total exports. North Macedonia and Slovenia lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Slovenia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average butter and ghee export price amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Montenegro ($X per ton), while the average price for exports to North Macedonia ($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 Montenegro (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into Serbia

In 2022, the amount of butter and ghee imported into Serbia soared to X tons, with an increase of X% on the year before. In general, imports posted a buoyant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, butter and ghee imports soared to $X in 2022. Over the period under review, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Poland (X tons), Belarus (X tons) and Germany (X tons) were the main suppliers of butter and ghee imports to Serbia, together comprising X% of total imports. The Netherlands, Turkey, France and Belgium lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest butter and ghee suppliers to Serbia were Poland ($X), the Netherlands ($X) and Belarus ($X), with a combined X% share of total imports. Germany, Turkey, France and Belgium lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Turkey, with a CAGR of X.6%, recorded 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

In 2022, the average butter and ghee import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, import price indicated measured growth 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 pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure 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 Belgium ($X per ton), while the price for Poland ($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 Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform