Price for Butter and Other Fats and Oils Derived from Milk in Morocco - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Morocco (CIF) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in Morocco (FOB) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in Morocco
- Exports of Butter and Other Fats and Oils Derived from Milk in Morocco
Price for Butter and Other Fats and Oils Derived from Milk in Morocco (CIF) - 2023
In June 2023, the average import price for butter and other fats and oils derived from milk amounted to $5,418 per ton, stabilizing at the previous month. Over the period under review, the import price continues to indicate a slight contraction. The most prominent rate of growth was recorded in July 2022 when the average import price increased by 11% against the previous month. As a result, import price reached the peak level of $7,489 per ton. From August 2022 to June 2023, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was France ($10,858 per ton), while the price for Ireland ($4,951 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by France (+1.4%), while the prices for the other major suppliers experienced a decline.
Price for Butter and Other Fats and Oils Derived from Milk in Morocco (FOB) - 2022
In 2022, the average export price for butter and other fats and oils derived from milk amounted to $7,316 per ton, growing by 34% against the previous year. Overall, the export price recorded a buoyant expansion. The pace of growth appeared the most rapid in 2017 an increase of 147%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($21,920 per ton), while the average price for exports to Senegal ($5,364 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 Mali (+62.3%), 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 Morocco
Imports of butter and other fats and oils derived from milk into Morocco stood at 16K tons in 2022, with an increase of 4.5% compared with the year before. The total import volume increased at an average annual rate of +1.2% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 7.1% against the previous year. As a result, imports reached the peak of 17K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of butter and other fats and oils derived from milk soared to $91M in 2022. The total import value increased at an average annual rate of +9.2% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Butter and Other Fats and Oils Derived from Milk in Morocco (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 26.4 | 16.6 | 15.7 | 20.8 | -7.6% |
| India | 9.0 | 1.3 | N/A | 16.0 | 21.1% |
| Turkey | N/A | N/A | 0.1 | 11.1 | 11000.0% |
| Ireland | 15.8 | 23.3 | 22.8 | 10.9 | -11.6% |
| Portugal | 1.9 | 9.2 | 13.2 | 5.7 | 44.2% |
| Argentina | 0.1 | N/A | 2.5 | 4.8 | 263.4% |
| Uruguay | 0.7 | 5.8 | 1.6 | 4.4 | 84.6% |
| Belgium | 3.6 | 4.7 | 3.3 | 3.7 | 0.9% |
| France | 4.3 | 3.3 | 3.4 | 3.5 | -6.6% |
| Ukraine | 5.9 | N/A | 0.6 | 1.3 | -39.6% |
| Others | 2.6 | 5.7 | 10.9 | 9.1 | 51.8% |
| Total | 70.3 | 70.0 | 74.1 | 91.4 | 9.1% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Morocco in 2022:
- India (3.5K tons)
- New Zealand (3.4K tons)
- Turkey (2.1K tons)
- Ireland (1.8K tons)
- Portugal (0.9K tons)
- Argentina (0.9K tons)
- Uruguay (0.7K tons)
- Belgium (0.5K tons)
- France (0.4K tons)
- Ukraine (0.2K tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Morocco
In 2022, the amount of butter and other fats and oils derived from milk exported from Morocco contracted to 22 tons, with a decrease of -8.3% compared with the previous year. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 459%. As a result, the exports attained the peak of 24 tons, and then dropped in the following year.
In value terms, exports of butter and other fats and oils derived from milk surged to $163K in 2022. Over the period under review, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2021 with an increase of 370%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Butter and Other Fats and Oils Derived from Milk in Morocco (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 19.0 | 17.7 | 16.1 | 20.8 | 3.1% |
| Russia | N/A | N/A | 0.3 | 1.1 | 266.7% |
| France | N/A | N/A | N/A | 1.0 | 0% |
| Mauritania | 2.9 | 2.6 | 0.2 | 0.7 | -37.7% |
| Spain | N/A | 0.2 | N/A | 0.6 | 73.2% |
| Senegal | 0.6 | 0.1 | 90.4 | 0.1 | -45.0% |
| Qatar | N/A | N/A | 8.7 | N/A | 0% |
| Others | 26.3 | 7.5 | 16.3 | 138 | 73.8% |
| Total | 48.7 | 28.1 | 132 | 163 | 49.6% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Morocco in 2022:
- United Arab Emirates (0.9 tons)
- Mauritania (0.1 tons)
- France (0.1 tons)
- Russia (0.1 tons)
- Spain (0.1 tons)
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