Price for Butter and Other Fats and Oils Derived from Milk in Chile - 2024
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Chile (CIF) - 2024
- Price for Butter and Other Fats and Oils Derived from Milk in Chile (FOB) - 2024
- Imports of Butter and Other Fats and Oils Derived from Milk in Chile
- Exports of Butter and Other Fats and Oils Derived from Milk in Chile
Price for Butter and Other Fats and Oils Derived from Milk in Chile (CIF) - 2024
In December 2023, the average import price for butter and other fats and oils derived from milk amounted to $5,500 per ton, surging by 4.7% against the previous month. Over the period from January 2023 to December 2023, it increased at an average monthly rate of +1.4%. The growth pace was the most rapid in July 2023 when the average import price increased by 27% month-to-month. As a result, import price attained the peak level of $6,656 per ton. From August 2023 to December 2023, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Ireland ($10,275 per ton), while the price for Argentina ($4,551 per ton) was amongst the lowest.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Ireland (+11.3%), 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 Chile (FOB) - 2024
In December 2023, the average export price for butter and other fats and oils derived from milk amounted to $5,666 per ton, waning by -3.3% against the previous month. Overall, the export price recorded a pronounced decline. As a result, the export price attained the peak level of $5,860 per ton, and then contracted modestly in the following month.
As there is only one major export destination, the average price level is determined by prices for the United States.
From November 2023 to December 2023, the rate of growth in terms of prices for the United States amounted to -3.3% per month.
Imports of Butter and Other Fats and Oils Derived from Milk in Chile
In 2022, the amount of butter and other fats and oils derived from milk imported into Chile declined sharply to 4.1K tons, with a decrease of -39.3% on the previous year's figure. Overall, imports saw a abrupt decline. The pace of growth was the most pronounced in 2021 when imports increased by 66%. As a result, imports attained the peak of 6.8K tons, and then declined markedly in the following year.
In value terms, imports of butter and other fats and oils derived from milk fell markedly to $24M in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 77%. As a result, imports reached the peak of $32M, and then fell remarkably in the following year.
| Import of Butter and Other Fats and Oils Derived from Milk in Chile (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 22.2 | 13.8 | 27.9 | 18.1 | -6.6% |
| Uruguay | N/A | 0.1 | 0.5 | 2.6 | 409.9% |
| Brazil | N/A | 0.4 | 0.3 | 1.4 | 87.1% |
| Argentina | 0.1 | 1.3 | 1.1 | 1.0 | 115.4% |
| Ireland | 1.0 | 0.9 | 1.1 | 0.8 | -7.2% |
| Others | 1.7 | 1.6 | 1.1 | 0.7 | -25.6% |
| Total | 25.0 | 18.1 | 32.0 | 24.5 | -0.7% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Chile in 2022:
- New Zealand (3020.4 tons)
- Uruguay (401.0 tons)
- Brazil (238.5 tons)
- Ireland (196.8 tons)
- Argentina (171.1 tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Chile
Exports of butter and other fats and oils derived from milk from Chile surged to 1.8K tons in 2022, jumping by 24% compared with the previous year's figure. In general, exports, however, saw a abrupt slump. The growth pace was the most rapid in 2020 with an increase of 26% against the previous year. As a result, the exports reached the peak of 2.8K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of butter and other fats and oils derived from milk soared to $11M in 2022. Overall, exports showed a relatively flat trend pattern.
| Export of Butter and Other Fats and Oils Derived from Milk in Chile (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 0.5 | 1.0 | 3.1 | 6.3 | 132.7% |
| United States | 7.3 | 6.8 | 2.3 | 4.4 | -15.5% |
| Dominican Republic | N/A | 0.9 | N/A | 0.4 | -33.3% |
| Peru | 3.2 | 3.2 | 1.4 | 0.2 | -60.3% |
| Panama | N/A | 1.2 | 0.2 | N/A | -83.3% |
| Others | N/A | 0.1 | N/A | N/A | 0% |
| Total | 11.1 | 13.1 | 7.0 | 11.4 | 0.9% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Chile in 2022:
- Mexico (1005.4 tons)
- United States (648.0 tons)
- Dominican Republic (58.3 tons)
- Peru (40.6 tons)
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