Price for Butter and Other Fats and Oils Derived from Milk in Luxembourg - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Luxembourg (CIF) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in Luxembourg (FOB) - 2023
- Imports of Butter and Other Fats and Oils Derived from Milk in Luxembourg
- Exports of Butter and Other Fats and Oils Derived from Milk in Luxembourg
Price for Butter and Other Fats and Oils Derived from Milk in Luxembourg (CIF) - 2023
In September 2023, the average import price for butter and other fats and oils derived from milk amounted to $7,641 per ton, increasing by 2.6% against the previous month. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2023 an increase of 11% m-o-m. As a result, import price reached the peak level of $8,175 per ton. From February 2023 to September 2023, the average import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In September 2023, the highest price was recorded for prices from France ($8,350 per ton) and Greece ($7,815 per ton), while the price for Germany ($6,016 per ton) and Belgium ($6,703 per ton) were amongst the lowest.
From October 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Germany (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Butter and Other Fats and Oils Derived from Milk in Luxembourg (FOB) - 2023
In November 2023, the average export price for butter and other fats and oils derived from milk amounted to $11,745 per ton, shrinking by -6.7% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in May 2023 an increase of 27% m-o-m. As a result, the export price reached the peak level of $15,414 per ton. From June 2023 to November 2023, the the average export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Azerbaijan.
From November 2022 to November 2023, the rate of growth in terms of prices for Germany amounted to +3.6% per month.
Imports of Butter and Other Fats and Oils Derived from Milk in Luxembourg
In 2022, the amount of butter and other fats and oils derived from milk imported into Luxembourg surged to 3.3K tons, with an increase of 21% compared with 2021 figures. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +12.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of butter and other fats and oils derived from milk skyrocketed to $22M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +17.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +84.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Butter and Other Fats and Oils Derived from Milk in Luxembourg (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 5.3 | 4.3 | 5.2 | 12.9 | 34.5% |
| Belgium | 5.8 | 5.6 | 6.6 | 8.1 | 11.8% |
| Germany | 2.0 | 2.1 | 4.6 | 1.2 | -15.7% |
| Portugal | 0.2 | 0.2 | 0.3 | 0.3 | 14.5% |
| Others | 0.5 | N/A | 0.1 | 0.1 | -41.5% |
| Total | 13.8 | 12.2 | 16.8 | 22.5 | 17.7% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Luxembourg in 2022:
- France (1725.0 tons)
- Belgium (1250.5 tons)
- Germany (234.7 tons)
- Portugal (46.5 tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Luxembourg
In 2022, the amount of butter and other fats and oils derived from milk exported from Luxembourg soared to 1.8K tons, rising by 52% against the previous year. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 56%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of butter and other fats and oils derived from milk skyrocketed to $19M in 2022. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 88% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in the immediate term.
| Export of Butter and Other Fats and Oils Derived from Milk in Luxembourg (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 3.4 | 2.2 | 5.3 | 14.3 | 61.4% |
| Belgium | 2.9 | 2.7 | 4.2 | 3.7 | 8.5% |
| Austria | 0.6 | 0.4 | 0.8 | 0.7 | 5.3% |
| France | 0.3 | 0.3 | 0.3 | 0.5 | 18.6% |
| Others | 0.1 | N/A | 0.1 | 0.1 | 0.0% |
| Total | 7.3 | 5.7 | 10.7 | 19.2 | 38.0% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Luxembourg in 2022:
- Germany (1236.2 tons)
- Belgium (423.0 tons)
- Austria (89.3 tons)
- France (50.6 tons)
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This report provides an in-depth analysis of the butter and ghee market in Luxembourg.
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This report provides an in-depth analysis of the butter market in Luxembourg.
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This report provides an in-depth analysis of the market for butter and dairy spreads in Luxembourg.
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This report provides an in-depth analysis of the dairy spread market in Luxembourg.
2091
This report provides an in-depth analysis of the global butter and ghee market.
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This report provides an in-depth analysis of the global ghee market.
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This report provides an in-depth analysis of the global butter market.
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Global butter and ghee consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
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Global butter and ghee exports amounted to X thousand tons in 2015, coming down by -X% against the previous year level.
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Global butter and ghee imports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
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In 2015, the countries with the highest levels of butter and ghee production were Turkey (X thousand tons), Iran (X thousand tons), Syria (X thousand tons), together accounting for X% of total output.
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The global butter and ghee market fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015.
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The market of butter and ghee fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015. Over the last year, the market dropped by X% in value terms.
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New Zealand seized control of the butter and ghee market. In 2014, New Zealand exported X thousand tons of butter and ghee totaling X USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total but
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New Zealand continued its dominance in the global ghee trade. In 2014, New Zealand exported X thousand tons of ghee totaling X million USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total ghee
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This year global butter production is anticipated to keep up with ha last year, amounting to 5.6M tons. The EU is forecast to decrease butter exports due to a slight drop in production amid an increase in demand. Butter exports from New Zealand are not forecast to grow due to increased competition with UHT cream for food service being increasingly in demand.
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