United Arab Emirates: Butter Market 2024

Butter Market Size in the United Arab Emirates

In 2022, the butter market in the United Arab Emirates decreased by -4.1% to $X, falling for the second year in a row after five years of growth. Over the period under review, consumption, however, posted resilient growth. Butter consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Butter Production in the United Arab Emirates

In value terms, butter production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, saw a strong increase. The growth pace was the most rapid in 2013 with an increase of 461%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Butter Exports

Exports from the United Arab Emirates

In 2022, overseas shipments of butter increased by 86% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2015 when exports increased by 516%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter exports shrank markedly to $X in 2022. Over the period under review, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 1,252%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Benin (X tons) was the main destination for butter exports from the United Arab Emirates, accounting for a 66% share of total exports. Moreover, butter exports to Benin exceeded the volume sent to the second major destination, Tanzania (X tons), sixfold. Bahrain (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Benin amounted to +104.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+23.3% per year) and Bahrain (+29.0% per year).

In value terms, the largest markets for butter exported from the United Arab Emirates were Jordan ($X), Sri Lanka ($X) and Bahrain ($X), with a combined 50% share of total exports. Benin, Tanzania and Rwanda lagged somewhat behind, together accounting for a further 27%.

Rwanda, with a CAGR of +147.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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, reducing by -62.3% against the previous year. Overall, the export price continues to indicate a noticeable slump. The pace of growth appeared the most rapid in 2015 when the average export price increased by 120%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Benin ($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 Iran (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into the United Arab Emirates

In 2022, supplies from abroad of butter increased by 9.4% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports showed prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 56%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, butter imports reached $X in 2022. Overall, imports posted strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 109%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

New Zealand (X tons), Denmark (X tons) and France (X tons) were the main suppliers of butter imports to the United Arab Emirates, with a combined 51% share of total imports. India, Turkey, Uruguay, the United States, Belgium and Australia lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +61.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Denmark ($X) and France ($X) were the largest butter suppliers to the United Arab Emirates, together comprising 50% of total imports. India, Turkey, Belgium, Uruguay, the United States and Australia lagged somewhat behind, together accounting for a further 12%.

In terms of the main suppliers, Turkey, with a CAGR of +57.1%, saw the highest rates of growth with regard to 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

The average butter import price stood at $X per ton in 2022, which is down by -4.5% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.8% 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 +58.5% against 2015 indices. The pace of growth appeared the most rapid in 2017 an increase of 34%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then declined slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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