Price for Butter and Other Fats and Oils Derived from Milk in Greece - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Greece (CIF) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in Greece (FOB) - 2023
- Imports of Butter and Other Fats and Oils Derived from Milk in Greece
- Exports of Butter and Other Fats and Oils Derived from Milk in Greece
Price for Butter and Other Fats and Oils Derived from Milk in Greece (CIF) - 2023
In November 2023, the average import price for butter and other fats and oils derived from milk amounted to $6,034 per ton, remaining constant against the previous month. Over the period under review, the import price showed a slight shrinkage. The most prominent rate of growth was recorded in April 2023 an increase of 16% month-to-month. The import price peaked at $7,129 per ton in November 2022; however, from December 2022 to November 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Germany ($23,349 per ton), while the price for Austria ($3,366 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Germany (+10.0%), 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 Greece (FOB) - 2023
In November 2023, the average export price for butter and other fats and oils derived from milk amounted to $9,254 per ton, picking up by 128% against the previous month. In general, the export price recorded a notable expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat for the major foreign markets. In November 2023, the countries with the highest prices were Cyprus ($10,714 per ton) and Bulgaria ($10,671 per ton), while the average price for exports to Romania ($7,930 per ton) and Montenegro ($8,635 per ton) were amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+8.8%), 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 Greece
In 2022, approx. 10K tons of butter and other fats and oils derived from milk were imported into Greece; remaining constant against the previous year's figure. Overall, imports, however, continue to indicate a mild descent. The pace of growth appeared the most rapid in 2021 with an increase of 6.5%.
In value terms, imports of butter and other fats and oils derived from milk soared to $70M in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +12.9% 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 +61.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Butter and Other Fats and Oils Derived from Milk in Greece (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 12.3 | 8.3 | 13.2 | 17.6 | 12.7% |
| Germany | 8.0 | 7.4 | 10.6 | 12.1 | 14.8% |
| France | 7.6 | 5.5 | 7.7 | 10.7 | 12.1% |
| Denmark | 7.2 | 8.6 | 9.6 | 8.7 | 6.5% |
| Italy | 3.6 | 5.4 | 5.5 | 8.5 | 33.2% |
| Poland | 1.8 | 1.6 | 1.1 | 4.9 | 39.6% |
| Belgium | 3.8 | 3.9 | 3.4 | 3.3 | -4.6% |
| Romania | 1.2 | 1.8 | 1.4 | 1.0 | -5.9% |
| Others | 3.0 | 0.8 | 1.6 | 2.9 | -1.1% |
| Total | 48.5 | 43.3 | 54.1 | 69.9 | 13.0% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Greece in 2022:
- Netherlands (2.5K tons)
- Germany (1.8K tons)
- Denmark (1.5K tons)
- France (1.4K tons)
- Italy (1.2K tons)
- Poland (0.7K tons)
- Romania (0.4K tons)
- Belgium (0.4K tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Greece
Exports of butter and other fats and oils derived from milk from Greece surged to 2.2K tons in 2022, with an increase of 43% on 2021. In general, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +17.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.9% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of butter and other fats and oils derived from milk soared to $9.6M in 2022. Overall, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +18.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.2% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Butter and Other Fats and Oils Derived from Milk in Greece (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Romania | 3.0 | 3.9 | 4.6 | 3.4 | 4.3% |
| Cyprus | 1.5 | 1.8 | 1.6 | 2.4 | 17.0% |
| Bulgaria | 1.0 | 0.7 | 0.6 | 2.4 | 33.9% |
| Italy | N/A | N/A | N/A | 0.5 | 0% |
| Netherlands | N/A | N/A | N/A | 0.3 | 0% |
| Others | 0.3 | 0.4 | 0.5 | 0.6 | 26.0% |
| Total | 5.8 | 6.9 | 7.3 | 9.6 | 18.3% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Greece in 2022:
- Bulgaria (883.3 tons)
- Romania (716.9 tons)
- Cyprus (302.9 tons)
- Italy (146.3 tons)
- Netherlands (69.6 tons)
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