Price for Butter and Other Fats and Oils Derived from Milk in Myanmar - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Myanmar (CIF) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in Myanmar
Price for Butter and Other Fats and Oils Derived from Milk in Myanmar (CIF) - 2022
In 2022, the average import price for butter and other fats and oils derived from milk amounted to $5,443 per ton, surging by 45% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($5,823 per ton), while the price for China ($848 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Butter and Other Fats and Oils Derived from Milk in Myanmar
For the third year in a row, Myanmar recorded decline in purchases abroad of butter and other fats and oils derived from milk, which decreased by -15.9% to 576 tons in 2022. Overall, imports continue to indicate a abrupt decline. The smallest decline of -11.5% was in 2020.
In value terms, imports of butter and other fats and oils derived from milk skyrocketed to $3.1M in 2022. Over the period under review, imports showed a abrupt downturn.
| Import of Butter and Other Fats and Oils Derived from Milk in Myanmar (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 2,990 | 2,647 | 1,851 | 2,916 | -0.8% |
| Belgium | N/A | N/A | N/A | 126 | 0% |
| Thailand | 80.0 | 52.9 | 47.8 | 53.9 | -12.3% |
| China | 26.5 | 22.9 | 108 | 26.4 | -0.1% |
| Malaysia | 119 | 81.6 | 38.9 | N/A | -42.8% |
| France | 129 | 137 | 27.4 | N/A | -53.9% |
| Indonesia | 133 | 141 | 139 | N/A | 2.2% |
| Singapore | 350 | 266 | 162 | N/A | -32.0% |
| Others | 222 | 272 | 195 | 13.4 | -60.8% |
| Total | 4,049 | 3,620 | 2,569 | 3,135 | -8.2% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Myanmar in 2022:
- New Zealand (500.8 tons)
- China (31.1 tons)
- Belgium (22.6 tons)
- Thailand (13.8 tons)
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