Price for Butter and Other Fats and Oils Derived from Milk in Kenya - 2022
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Kenya (CIF) - 2022
- Price for Butter and Other Fats and Oils Derived from Milk in Kenya (FOB) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in Kenya
- Exports of Butter and Other Fats and Oils Derived from Milk in Kenya
Price for Butter and Other Fats and Oils Derived from Milk in Kenya (CIF) - 2022
The average import price for butter and other fats and oils derived from milk stood at $3,417 per ton in 2022, declining by -31.6% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 25%. Over the period under review, average import prices attained the maximum at $6,034 per ton in 2020; however, from 2021 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 Rwanda ($6,102 per ton), while the price for Uganda ($3,272 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Butter and Other Fats and Oils Derived from Milk in Kenya (FOB) - 2022
The average export price for butter and other fats and oils derived from milk stood at $2,158 per ton in 2022, dropping by -49.9% against the previous year. In general, the export price saw a abrupt setback. The pace of growth was the most pronounced in 2020 an increase of 16%. Over the period under review, the average export prices hit record highs at $5,083 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
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 India ($5,783 per ton), while the average price for exports to Oman ($765 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 the United States (+10.7%), 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 Kenya
In 2022, overseas purchases of butter and other fats and oils derived from milk were finally on the rise to reach 379 tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +5.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of butter and other fats and oils derived from milk shrank to $1.3M in 2022. Over the period under review, imports, however, showed a drastic downturn. The pace of growth was the most pronounced in 2020 when imports increased by 2.9% against the previous year. As a result, imports reached the peak of $1.8M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Butter and Other Fats and Oils Derived from Milk in Kenya (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Uganda | 1,182 | 1,317 | 1,109 | 1,176 | -0.2% |
| Rwanda | 3.8 | 11.8 | 19.3 | 43.2 | 124.9% |
| United Arab Emirates | 148 | 114 | 56.3 | 2.8 | -73.4% |
| Ireland | 89.5 | 162 | 102 | N/A | 6.8% |
| Others | 336 | 205 | 203 | 74.3 | -39.5% |
| Total | 1,759 | 1,810 | 1,489 | 1,296 | -9.7% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Kenya in 2022:
- Uganda (359.4 tons)
- Rwanda (7.1 tons)
- United Arab Emirates (0.5 tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Kenya
In 2022, shipments abroad of butter and other fats and oils derived from milk decreased by -29.1% to 241 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 442% against the previous year. As a result, the exports reached the peak of 341 tons, and then shrank remarkably in the following year.
In value terms, exports of butter and other fats and oils derived from milk contracted remarkably to $521K in 2022. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 381% against the previous year. As a result, the exports reached the peak of $1.5M, and then dropped markedly in the following year.
| Export of Butter and Other Fats and Oils Derived from Milk in Kenya (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Tanzania | 45.0 | 48.8 | 568 | 272 | 82.2% |
| Oman | 13.6 | 9.4 | 3.7 | 125 | 109.5% |
| United States | 1.2 | 4.7 | 27.5 | 21.1 | 160.0% |
| Qatar | N/A | N/A | N/A | 12.3 | 0% |
| Uganda | 15.0 | 35.9 | 236 | N/A | 296.7% |
| Mozambique | 1.6 | 2.3 | 6.0 | N/A | 93.6% |
| Egypt | 108 | 146 | 400 | N/A | 92.5% |
| Turkey | 14.2 | 39.3 | 147 | N/A | 221.7% |
| Others | 7.4 | 18.9 | 77.8 | 90.4 | 130.3% |
| Total | 206 | 305 | 1,466 | 521 | 36.2% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Kenya in 2022:
- Oman (164.0 tons)
- Tanzania (50.7 tons)
- Qatar (11.9 tons)
- United States (7.2 tons)
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