Price for Butter and Other Fats and Oils Derived from Milk in Russia - 2022
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Russia (CIF) - 2022
- Price for Butter and Other Fats and Oils Derived from Milk in Russia (FOB) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in Russia
- Exports of Butter and Other Fats and Oils Derived from Milk in Russia
Price for Butter and Other Fats and Oils Derived from Milk in Russia (CIF) - 2022
In 2022, the average import price for butter and other fats and oils derived from milk amounted to $6,627 per ton, picking up by 36% against the previous year. Over the period under review, the import price saw a buoyant increase. The most prominent rate of growth was recorded in 2017 an increase of 159% against the previous year. Over the period under review, average import prices reached the maximum at $16,194 per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat 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 Finland ($11,248 per ton), while the price for Kyrgyzstan ($4,045 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+26.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Butter and Other Fats and Oils Derived from Milk in Russia (FOB) - 2022
In 2022, the average export price for butter and other fats and oils derived from milk amounted to $4,707 per ton, rising by 4.6% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for butter and other fats and oils derived from milk increased by +114.8% against 2015 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by 27%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Azerbaijan ($5,783 per ton), while the average price for exports to Kyrgyzstan ($3,492 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 Kyrgyzstan (+5.1%), 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 Russia
In 2022, purchases abroad of butter and other fats and oils derived from milk decreased by -27.5% to 87K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2021 when imports increased by 82%. As a result, imports attained the peak of 121K tons, and then fell remarkably in the following year.
In value terms, imports of butter and other fats and oils derived from milk shrank modestly to $579M in 2022. Overall, imports showed a perceptible decrease. The growth pace was the most rapid in 2021 when imports increased by 2.7% against the previous year.
| Import of Butter and Other Fats and Oils Derived from Milk in Russia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Argentina | 49.4 | 66.7 | 54.4 | 158 | 47.3% |
| Kazakhstan | 11.7 | 5.4 | 18.2 | 90.9 | 98.1% |
| Uruguay | 54.4 | 11.0 | 25.0 | 84.8 | 15.9% |
| New Zealand | 116 | 113 | 59.8 | 81.6 | -11.1% |
| Armenia | 0.5 | 0.2 | 0.8 | 65.1 | 406.8% |
| Kyrgyzstan | 14.0 | 12.4 | 13.1 | 49.0 | 51.8% |
| Azerbaijan | 7.7 | 1.7 | 1.3 | 33.5 | 63.2% |
| Belarus | 404 | 355 | 406 | N/A | 0.2% |
| Others | 3.4 | 6.4 | 8.2 | 16.7 | 70.0% |
| Total | 661 | 572 | 587 | 579 | -4.3% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Russia in 2022:
- Argentina (24.3K tons)
- Uruguay (13.3K tons)
- Kyrgyzstan (12.1K tons)
- New Zealand (11.9K tons)
- Kazakhstan (10.7K tons)
- Armenia (8.7K tons)
- Azerbaijan (4.1K tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Russia
In 2022, approx. 2.5K tons of butter and other fats and oils derived from milk were exported from Russia; growing by 30% against the previous year's figure. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 84%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in years to come.
In value terms, exports of butter and other fats and oils derived from milk skyrocketed to $12M in 2022. In general, exports posted a significant increase. The growth pace was the most rapid in 2020 with an increase of 83% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.
| Export of Butter and Other Fats and Oils Derived from Milk in Russia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kazakhstan | 3.5 | 4.9 | 4.7 | 9.4 | 39.0% |
| Kyrgyzstan | 0.2 | 0.1 | 0.1 | 1.1 | 76.5% |
| Azerbaijan | 0.2 | 0.8 | 1.8 | 0.7 | 51.8% |
| Armenia | 0.2 | 1.3 | 0.5 | 0.2 | 0.0% |
| Paraguay | N/A | N/A | N/A | 0.2 | 0% |
| Belarus | 0.5 | 1.0 | 1.3 | N/A | 61.2% |
| Others | 0.2 | 0.7 | 0.2 | 0.1 | -20.6% |
| Total | 4.8 | 8.8 | 8.6 | 11.7 | 34.6% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Russia in 2022:
- Kazakhstan (1954.1 tons)
- Kyrgyzstan (322.8 tons)
- Azerbaijan (113.4 tons)
- Paraguay (50.0 tons)
- Armenia (26.4 tons)
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