Price for Butter and Other Fats and Oils Derived from Milk in Bangladesh - 2022
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Bangladesh (CIF) - 2022
- Price for Butter and Other Fats and Oils Derived from Milk in Bangladesh (FOB) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in Bangladesh
- Exports of Butter and Other Fats and Oils Derived from Milk in Bangladesh
Price for Butter and Other Fats and Oils Derived from Milk in Bangladesh (CIF) - 2022
The average import price for butter and other fats and oils derived from milk stood at $4,452 per ton in 2022, declining by -5.2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 43% against the previous year. Over the period under review, average import prices hit record highs at $5,329 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.
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 Malaysia ($6,457 per ton), while the price for Australia ($1,265 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+21.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Butter and Other Fats and Oils Derived from Milk in Bangladesh (FOB) - 2022
The average export price for butter and other fats and oils derived from milk stood at $8,268 per ton in 2022, approximately reflecting the previous year. Over the period under review, the export price enjoyed a slight expansion. The most prominent rate of growth was recorded in 2020 an increase of 68% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($18,177 per ton), while the average price for exports to Brunei Darussalam ($539 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 South Africa (+44.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Butter and Other Fats and Oils Derived from Milk in Bangladesh
After three years of growth, overseas purchases of butter and other fats and oils derived from milk decreased by -17.1% to 1.3K tons in 2022. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +11.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.5% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 60% against the previous year. As a result, imports reached the peak of 1.6K tons, and then dropped rapidly in the following year.
In value terms, imports of butter and other fats and oils derived from milk contracted rapidly to $5.9M in 2022. In general, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +9.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 75%. As a result, imports attained the peak of $7.5M, and then reduced sharply in the following year.
| Import of Butter and Other Fats and Oils Derived from Milk in Bangladesh (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 3,132 | 2,756 | 2,803 | 4,169 | 10.0% |
| India | 432 | 604 | 2,605 | 1,225 | 41.5% |
| United Arab Emirates | 212 | 159 | 157 | 409 | 24.5% |
| Australia | 277 | 104 | 198 | 2.4 | -79.5% |
| Ireland | 257 | 334 | N/A | N/A | 30.0% |
| China | N/A | 116 | 605 | N/A | 421.6% |
| Netherlands | 9.1 | 14.9 | 903 | N/A | 896.1% |
| Others | 181 | 199 | 246 | 96.6 | -18.9% |
| Total | 4,500 | 4,286 | 7,517 | 5,902 | 9.5% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Bangladesh in 2022:
- New Zealand (879.2 tons)
- India (327.4 tons)
- United Arab Emirates (100.0 tons)
- Australia (1.9 tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Bangladesh
In 2022, approx. 111 tons of butter and other fats and oils derived from milk were exported from Bangladesh; surging by 7.1% against the previous year's figure. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 29% against the previous year. As a result, the exports reached the peak of 142 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of butter and other fats and oils derived from milk expanded rapidly to $920K in 2022. Overall, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 117%. As a result, the exports reached the peak of $985K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Butter and Other Fats and Oils Derived from Milk in Bangladesh (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 197 | 515 | 444 | 625 | 46.9% |
| Australia | 163 | 205 | 194 | 213 | 9.3% |
| Japan | 16.2 | 64.2 | 35.1 | 28.0 | 20.0% |
| Brunei Darussalam | 1.9 | 2.0 | 12.3 | 18.8 | 114.7% |
| Singapore | 0.5 | 14.2 | 13.9 | 18.4 | 232.6% |
| South Africa | 2.0 | N/A | 0.9 | 8.9 | 64.5% |
| Saudi Arabia | 62.6 | 165 | 144 | N/A | 51.7% |
| Others | 11.8 | 20.0 | 11.9 | 9.2 | -8.0% |
| Total | 454 | 985 | 856 | 920 | 26.5% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Bangladesh in 2022:
- Brunei Darussalam (34.8 tons)
- United States (34.4 tons)
- Australia (27.5 tons)
- Singapore (6.1 tons)
- South Africa (4.0 tons)
- Japan (3.2 tons)
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