Price for Butter and Other Fats and Oils Derived from Milk in Pakistan - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Pakistan (FOB) - 2022
- Price for Butter and Other Fats and Oils Derived from Milk in Pakistan (CIF) - 2022
- Exports of Butter and Other Fats and Oils Derived from Milk in Pakistan
- Imports of Butter and Other Fats and Oils Derived from Milk in Pakistan
Price for Butter and Other Fats and Oils Derived from Milk in Pakistan (FOB) - 2022
In 2022, the average export price for butter and other fats and oils derived from milk amounted to $3,840 per ton, falling by -48.9% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices reached the maximum at $7,513 per ton in 2021, and then contracted dramatically in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($7,938 per ton), while the average price for exports to the United Arab Emirates ($2,781 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 Afghanistan (+15.8%), 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 Pakistan (CIF) - 2022
In 2022, the average import price for butter and other fats and oils derived from milk amounted to $1,445 per ton, with a decrease of -54.1% against the previous year. Overall, the import price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by 29%. As a result, import price reached the peak level of $3,753 per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($3,105 per ton), while the price for Iran ($361 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+7.9%), while the prices for the other major suppliers experienced a decline.
Exports of Butter and Other Fats and Oils Derived from Milk in Pakistan
For the fourth consecutive year, Pakistan recorded growth in overseas shipments of butter and other fats and oils derived from milk, which increased by 248% to 426 tons in 2022. Over the period under review, exports recorded significant growth. As a result, the exports attained 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 $1.6M in 2022. In general, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Butter and Other Fats and Oils Derived from Milk in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | N/A | N/A | N/A | 478 | 0% |
| United Arab Emirates | 9.1 | 83.6 | 155 | 393 | 250.8% |
| United States | 179 | 261 | 471 | 393 | 30.0% |
| Australia | 37.0 | 85.2 | 74.6 | 141 | 56.2% |
| Hong Kong SAR | 129 | 147 | 138 | 136 | 1.8% |
| Malaysia | N/A | N/A | 35.0 | 40.2 | 14.9% |
| Others | 40.4 | 51.1 | 45.3 | 55.5 | 11.2% |
| Total | 394 | 627 | 920 | 1,636 | 60.7% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Pakistan in 2022:
- Turkey (160.7 tons)
- United Arab Emirates (141.3 tons)
- United States (58.2 tons)
- Hong Kong SAR (31.1 tons)
- Australia (17.7 tons)
- Malaysia (8.4 tons)
Imports of Butter and Other Fats and Oils Derived from Milk in Pakistan
In 2022, imports of butter and other fats and oils derived from milk into Pakistan surged to 549 tons, with an increase of 61% against the previous year. Overall, imports saw a buoyant increase. 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 dropped sharply to $793K in 2022. Over the period under review, imports, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 9.6% against the previous year. As a result, imports attained the peak of $1.1M, and then fell remarkably in the following year.
| Import of Butter and Other Fats and Oils Derived from Milk in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Denmark | 771 | 924 | 769 | 598 | -8.1% |
| Iran | N/A | N/A | 93.6 | 101 | 7.9% |
| New Zealand | 53.8 | 16.9 | 51.8 | 55.7 | 1.2% |
| United Arab Emirates | 11.9 | N/A | N/A | 29.6 | 35.5% |
| Australia | N/A | N/A | 90.7 | N/A | 0% |
| Others | 186 | 36.7 | 67.4 | 9.1 | -63.4% |
| Total | 1,023 | 978 | 1,072 | 793 | -8.1% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Pakistan in 2022:
- Iran (278.7 tons)
- Denmark (192.7 tons)
- United Arab Emirates (39.3 tons)
- New Zealand (28.8 tons)
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