Price for Butter and Other Fats and Oils Derived from Milk in India - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in India (FOB) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in India (CIF) - 2023
- Exports of Butter and Other Fats and Oils Derived from Milk in India
- Imports of Butter and Other Fats and Oils Derived from Milk in India
Price for Butter and Other Fats and Oils Derived from Milk in India (FOB) - 2023
In October 2023, the average export price for butter and other fats and oils derived from milk amounted to $6,864 per ton, flattening at the previous month. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 8.9% against the previous month. As a result, the export price reached the peak level of $7,554 per ton. From July 2023 to October 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In October 2023, the country with the highest price was Oman ($7,799 per ton), while the average price for exports to Egypt ($4,483 per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Butter and Other Fats and Oils Derived from Milk in India (CIF) - 2023
The average import price for butter and other fats and oils derived from milk stood at $6,049 per ton in October 2023, which is down by -25.2% against the previous month. In general, the import price continues to indicate a perceptible slump. The pace of growth appeared the most rapid in September 2023 when the average import price increased by 95% month-to-month. The import price peaked at $11,097 per ton in July 2023; however, from August 2023 to October 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was France ($9,842 per ton), while the price for Nepal ($4,864 per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Bahrain (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Butter and Other Fats and Oils Derived from Milk in India
In 2022, exports of butter and other fats and oils derived from milk from India surged to 37K tons, rising by 70% against the year before. Over the period under review, exports, however, recorded a deep reduction.
In value terms, exports of butter and other fats and oils derived from milk surged to $207M in 2022. In general, exports recorded moderate growth. 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 India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 25.8 | 26.7 | 30.5 | 36.0 | 11.7% |
| Saudi Arabia | 13.5 | 8.9 | 18.3 | 32.3 | 33.7% |
| Bahrain | 3.1 | 2.2 | 5.2 | 31.9 | 117.5% |
| Qatar | 5.3 | 6.5 | 6.4 | 24.2 | 65.9% |
| United States | 9.4 | 15.4 | 8.2 | 15.6 | 18.4% |
| Morocco | 6.3 | 1.2 | 4.1 | 10.6 | 18.9% |
| Indonesia | 7.7 | 1.1 | 7.2 | 9.9 | 8.7% |
| Singapore | 5.8 | 8.0 | 7.8 | 7.1 | 7.0% |
| Australia | 4.8 | 8.5 | 4.9 | 6.6 | 11.2% |
| Oman | 4.5 | 5.1 | 6.4 | 6.2 | 11.3% |
| Egypt | 20.5 | 2.8 | 2.5 | 5.8 | -34.4% |
| Kuwait | 3.1 | 2.8 | 2.9 | 3.7 | 6.1% |
| Turkey | 64.3 | 0.6 | 0.5 | 0.1 | -88.4% |
| Others | 15.3 | 14.2 | 18.6 | 17.3 | 4.2% |
| Total | 189 | 104 | 124 | 207 | 3.1% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from India in 2022:
- Bahrain (7.4K tons)
- Saudi Arabia (5.7K tons)
- United Arab Emirates (5.5K tons)
- Qatar (4.6K tons)
- Morocco (2.5K tons)
- United States (2.2K tons)
- Indonesia (1.6K tons)
- Egypt (1.3K tons)
- Australia (1.0K tons)
- Singapore (1.0K tons)
- Oman (1.0K tons)
- Kuwait (0.6K tons)
Imports of Butter and Other Fats and Oils Derived from Milk in India
In 2022, imports of butter and other fats and oils derived from milk into India surged to 269 tons, increasing by 40% against the year before. In general, imports, however, recorded a abrupt decrease.
In value terms, imports of butter and other fats and oils derived from milk surged to $2M in 2022. Overall, imports, however, continue to indicate a noticeable slump.
| Import of Butter and Other Fats and Oils Derived from Milk in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | N/A | N/A | N/A | 687 | 0% |
| France | 290 | 33.5 | 295 | 517 | 21.3% |
| New Zealand | 595 | 2,175 | 549 | 227 | -27.5% |
| Bahrain | 43.9 | 40.8 | 37.8 | 212 | 69.0% |
| United Kingdom | N/A | N/A | 94.4 | 151 | 60.0% |
| Belgium | 114 | 8.5 | 71.1 | 88.4 | -8.1% |
| Denmark | 115 | 90.4 | 68.5 | 86.0 | -9.2% |
| Nepal | 265 | N/A | 52.9 | 19.0 | -58.5% |
| Egypt | N/A | 90.9 | N/A | N/A | 0% |
| Turkey | 378 | N/A | N/A | N/A | 0% |
| Others | 370 | 253 | 129 | 33.5 | -55.1% |
| Total | 2,169 | 2,692 | 1,298 | 2,020 | -2.3% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to India in 2022:
- Indonesia (100.8 tons)
- France (62.3 tons)
- New Zealand (27.3 tons)
- Bahrain (25.0 tons)
- United Kingdom (20.0 tons)
- Denmark (11.9 tons)
- Belgium (10.8 tons)
- Nepal (5.3 tons)
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