Price for Butter and Other Fats and Oils Derived from Milk in Ghana - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Ghana (CIF) - 2022
- Price for Butter and Other Fats and Oils Derived from Milk in Ghana (FOB) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in Ghana
- Exports of Butter and Other Fats and Oils Derived from Milk in Ghana
Price for Butter and Other Fats and Oils Derived from Milk in Ghana (CIF) - 2022
The average import price for butter and other fats and oils derived from milk stood at $5,264 per ton in 2022, declining by -6.1% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2017 an increase of 31% against the previous year. Over the period under review, average import prices reached the maximum at $5,949 per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat 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 France ($6,418 per ton), while the price for China ($173 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+9.8%), 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 Ghana (FOB) - 2022
The average export price for butter and other fats and oils derived from milk stood at $655 per ton in 2022, with a decrease of -9.5% against the previous year. In general, the export price recorded a noticeable contraction. The growth pace was the most rapid in 2013 an increase of 33% against the previous year. As a result, the export price attained the peak level of $1,132 per ton. From 2014 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 France ($6,353 per ton), while the average price for exports to Niger ($118 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 France (+33.8%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Butter and Other Fats and Oils Derived from Milk in Ghana
In 2022, approx. 1.7K tons of butter and other fats and oils derived from milk were imported into Ghana; increasing by 20% on 2021. In general, imports continue to indicate a relatively flat trend pattern.
In value terms, imports of butter and other fats and oils derived from milk expanded significantly to $8.9M in 2022. Overall, imports, however, showed a noticeable contraction.
| Import of Butter and Other Fats and Oils Derived from Milk in Ghana (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 7.5 | 7.8 | 5.3 | 4.2 | -17.6% |
| France | 0.6 | 0.8 | 1.2 | 1.9 | 46.8% |
| Malaysia | 0.4 | 0.4 | 0.4 | 0.9 | 31.0% |
| Denmark | 0.3 | 0.4 | 0.7 | 0.8 | 38.7% |
| Belgium | 0.7 | 0.2 | 0.2 | 0.2 | -34.1% |
| Spain | N/A | N/A | N/A | N/A | 0% |
| China | N/A | N/A | N/A | N/A | 0% |
| Turkey | 0.1 | 0.1 | N/A | N/A | 0.0% |
| Others | 0.2 | 0.4 | 0.1 | 0.9 | 65.1% |
| Total | 9.7 | 10.0 | 7.9 | 8.9 | -2.8% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Ghana in 2022:
- New Zealand (854.4 tons)
- France (301.2 tons)
- Malaysia (178.0 tons)
- Denmark (136.3 tons)
- China (40.6 tons)
- Belgium (36.1 tons)
- Spain (30.7 tons)
- Turkey (6.0 tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Ghana
In 2022, overseas shipments of butter and other fats and oils derived from milk decreased by -12.4% to 1.7K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 911%.
In value terms, exports of butter and other fats and oils derived from milk dropped rapidly to $1.1M in 2022. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 663% against the previous year.
| Export of Butter and Other Fats and Oils Derived from Milk in Ghana (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 70.7 | 532 | 993 | 575 | 101.1% |
| Burkina Faso | 2.9 | 42.1 | 152 | 388 | 411.5% |
| Spain | 6.3 | 47.7 | 89.9 | 52.5 | 102.7% |
| Saudi Arabia | 8.2 | 63.6 | 10.1 | 31.0 | 55.8% |
| United States | 5.0 | 30.5 | 46.4 | 21.9 | 63.6% |
| Togo | 3.7 | 58.8 | 44.3 | 14.8 | 58.7% |
| Niger | 0.9 | 6.0 | 10.0 | 5.5 | 82.8% |
| Others | 10.8 | 47.1 | 70.3 | 33.3 | 45.5% |
| Total | 108 | 828 | 1,415 | 1,122 | 118.2% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Ghana in 2022:
- Burkina Faso (964.9 tons)
- Netherlands (377.5 tons)
- Togo (109.8 tons)
- Spain (83.6 tons)
- United States (64.6 tons)
- Niger (47.0 tons)
- Saudi Arabia (35.3 tons)
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This report provides an in-depth analysis of the butter and ghee market in Ghana.
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This report provides an in-depth analysis of the ghee market in Ghana.
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This report provides an in-depth analysis of the butter market in Ghana.
363
This report provides an in-depth analysis of the dairy produce market in Ghana.
348
This report provides an in-depth analysis of the market for butter and dairy spreads in Ghana.
402
This report provides an in-depth analysis of the dairy spread market in Ghana.
2263
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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This report provides an in-depth analysis of the global dairy produce 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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The butter market is projected to experience steady growth over the next seven years, driven by increasing demand worldwide. Market performance is expected to see a CAGR of +1.8% in volume and +3.5% in value from 2023 to 2030.
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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.
