Slovenia: Butter Market 2024

Butter Market Size in Slovenia

In 2022, the Slovene butter market increased by 1.2% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +6.5% against 2020 indices. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Butter Production in Slovenia

In value terms, butter production fell modestly to $X in 2022 estimated in export price. Overall, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +5.3% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 43% against the previous year. Butter production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Butter Exports

Exports from Slovenia

In 2022, after two years of growth, there was decline in shipments abroad of butter, when their volume decreased by -0.8% to X tons. Overall, exports faced a deep slump. The most prominent rate of growth was recorded in 2014 with an increase of 91% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, butter exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 100%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

North Macedonia (X tons), Croatia (X tons) and Albania (X tons) were the main destinations of butter exports from Slovenia, together comprising 78% of total exports. Bosnia and Herzegovina, Hungary, Italy, Montenegro, Austria and the Czech Republic lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +15.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for butter exported from Slovenia were North Macedonia ($X), Albania ($X) and Croatia ($X), together accounting for 76% of total exports. Bosnia and Herzegovina, Hungary, Italy, Montenegro, Austria and the Czech Republic lagged somewhat behind, together accounting for a further 18%.

Among the main countries of destination, Hungary, with a CAGR of +17.8%, saw the highest rates of growth with regard to 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 export price amounted to $X per ton, increasing by 34% against the previous year. Overall, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +7.0% 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 +61.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 43% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Hungary ($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 Austria (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Slovenia

In 2022, the amount of butter imported into Slovenia expanded notably to X tons, surging by 12% on the previous year's figure. In general, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, butter imports skyrocketed to $X in 2022. Overall, imports recorded strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of butter to Slovenia, with a 46% share of total imports. Moreover, butter imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+10.4% per year) and Italy (+9.7% per year).

In value terms, Germany ($X) constituted the largest supplier of butter to Slovenia, comprising 45% of total imports. The second position in the ranking was taken by Austria ($X), with an 18% share of total imports. It was followed by Italy, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+13.9% per year) and Italy (+13.9% per year).

Import Prices by Country

The average butter import price stood at $X per ton in 2022, picking up by 25% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2022: its price 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, butter import price increased by +51.9% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 47% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Croatia ($X per ton) and Austria ($X per ton), while the price for Italy ($X per ton) and Ireland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform