Thailand: Butter And Ghee Market 2024

Butter And Ghee Market Size in Thailand

The Thai butter and ghee market declined modestly to $X in 2022, which is down 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). The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Butter and ghee consumption peaked at $X in 2021, and then reduced slightly in the following year.

Butter And Ghee Exports

Exports from Thailand

In 2022, overseas shipments of butter and ghee increased by X% to X tons, rising for the second year in a row after three years of decline. In general, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, butter and ghee exports skyrocketed to $X in 2022. Overall, total exports indicated a temperate 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 pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Myanmar (X tons) was the main destination for butter and ghee exports from Thailand, accounting for a X% share of total exports. Moreover, butter and ghee exports to Myanmar exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), twofold. The third position in this ranking was taken by the Philippines (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (X% per year) and the Philippines (X% per year).

In value terms, the largest markets for butter and ghee exported from Thailand were the Philippines ($X), Myanmar ($X) and Lao People's Democratic Republic ($X), together comprising X% of total exports.

Among the main countries of destination, the Philippines, with a CAGR of X%, recorded 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 and ghee export price amounted to $X per ton, waning by X% against the previous year. Overall, the export price saw a slight curtailment. The growth pace was the most rapid in 2019 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average 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 the Philippines ($X per ton), while the average price for exports to Myanmar ($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 the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into Thailand

In 2022, overseas purchases of butter and ghee increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, butter and ghee imports surged to $X in 2022. In general, total imports 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest butter and ghee supplier to Thailand, accounting for a X% share of total imports. Moreover, butter and ghee imports from New Zealand exceeded the figures recorded by the second-largest supplier, Australia (X tons), threefold. The third position in this ranking was taken by France (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and France (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter and ghee to Thailand, comprising X% of total imports. The second position in the ranking was held by Australia ($X), with a X% share of total imports. It was followed by France, with an 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: Australia (X% per year) and France (X% per year).

Import Prices by Country

The average butter and ghee import price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, 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 most prominent rate of growth was recorded in 2017 when the average import price increased by X%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in years to come.

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 France ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :