Price for Butter and Other Fats and Oils Derived from Milk in Serbia - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Serbia (CIF) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in Serbia (FOB) - 2023
- Imports of Butter and Other Fats and Oils Derived from Milk in Serbia
- Exports of Butter and Other Fats and Oils Derived from Milk in Serbia
Price for Butter and Other Fats and Oils Derived from Milk in Serbia (CIF) - 2023
The average import price for butter and other fats and oils derived from milk stood at $5,538 per ton in November 2023, therefore, remained relatively stable against the previous month. Over the period under review, the import price showed a perceptible slump. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 14% against the previous month. As a result, import price reached the peak level of $7,906 per ton. From February 2023 to November 2023, the average import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In November 2023, the highest price was recorded for prices from France ($7,398 per ton) and Bosnia and Herzegovina ($6,907 per ton), while the price for Poland ($4,937 per ton) and Belarus ($4,997 per ton) were amongst the lowest.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by France (+0.1%), while the prices for the other major suppliers experienced a decline.
Price for Butter and Other Fats and Oils Derived from Milk in Serbia (FOB) - 2023
In November 2023, the average export price for butter and other fats and oils derived from milk amounted to $6,276 per ton, rising by 3.5% against the previous month. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in January 2023 an increase of 7.8% against the previous month. As a result, the export price reached the peak level of $7,318 per ton. From February 2023 to November 2023, the the average export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In November 2023, the country with the highest price was Montenegro ($7,645 per ton), while the average price for exports to Switzerland ($4,499 per ton) was amongst the lowest.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+0.3%), while the prices for the other major destinations experienced a decline.
Imports of Butter and Other Fats and Oils Derived from Milk in Serbia
In 2022, the amount of butter and other fats and oils derived from milk imported into Serbia soared to 4.6K tons, rising by 51% against the previous year. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +13.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.4% against 2020 indices. 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 soared to $30M in 2022. In general, imports posted a significant expansion. 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 Serbia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 9.2 | 3.9 | 7.5 | 7.8 | -5.4% |
| Netherlands | 0.3 | 0.4 | 0.4 | 5.2 | 158.8% |
| Belarus | 0.6 | 1.5 | 0.5 | 5.0 | 102.7% |
| Germany | 2.3 | 2.6 | 3.3 | 5.0 | 29.5% |
| Turkey | N/A | N/A | N/A | 2.9 | 0% |
| France | 1.6 | 1.9 | 2.1 | 1.8 | 4.0% |
| Belgium | 0.3 | 0.2 | 0.2 | 1.0 | 49.4% |
| Hungary | 0.5 | 0.3 | N/A | 0.2 | -26.3% |
| Romania | N/A | 0.4 | 0.5 | 0.1 | -50.0% |
| Others | 0.7 | 1.2 | 0.5 | 0.9 | 8.7% |
| Total | 15.5 | 12.4 | 15.0 | 30.0 | 24.6% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Serbia in 2022:
- Poland (1372.7 tons)
- Belarus (800.0 tons)
- Germany (696.5 tons)
- Netherlands (592.7 tons)
- Turkey (510.9 tons)
- France (257.2 tons)
- Belgium (115.5 tons)
- Romania (24.4 tons)
- Hungary (23.6 tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Serbia
Exports of butter and other fats and oils derived from milk from Serbia contracted to 1.7K tons in 2022, with a decrease of -7.9% against the previous year. The total export volume increased at an average annual rate of +2.3% 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 2021 when exports increased by 22%. As a result, the exports attained the peak of 1.9K tons, and then reduced in the following year.
In value terms, exports of butter and other fats and oils derived from milk totaled $9.5M in 2022. The total export value increased at an average annual rate of +10.7% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 32% 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 Serbia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Montenegro | 2.9 | 2.3 | 3.2 | 3.7 | 8.5% |
| Bosnia and Herzegovina | 2.0 | 2.0 | 2.4 | 2.5 | 7.7% |
| Croatia | 1.0 | 1.1 | 1.4 | 1.5 | 14.5% |
| North Macedonia | 0.7 | 0.7 | 0.9 | 1.0 | 12.6% |
| Slovenia | 0.2 | 0.3 | 0.5 | 0.4 | 26.0% |
| Others | 0.1 | 0.3 | 0.5 | 0.3 | 44.2% |
| Total | 7.0 | 6.7 | 8.9 | 9.5 | 10.7% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Serbia in 2022:
- Montenegro (571.2 tons)
- Bosnia and Herzegovina (517.6 tons)
- Croatia (270.5 tons)
- North Macedonia (244.5 tons)
- Slovenia (73.4 tons)
497
This report provides an in-depth analysis of the butter and ghee market in Serbia.
202
This report provides an in-depth analysis of the ghee market in Serbia.
575
This report provides an in-depth analysis of the butter market in Serbia.
174
This report provides an in-depth analysis of the dairy produce market in Serbia.
151
This report provides an in-depth analysis of the market for butter and dairy spreads in Serbia.
158
This report provides an in-depth analysis of the dairy spread market in Serbia.
2292
This report provides an in-depth analysis of the global butter and ghee market.
3075
This report provides an in-depth analysis of the global ghee market.
3425
This report provides an in-depth analysis of the global butter market.
1003
This report provides an in-depth analysis of the global dairy produce market.
8159
Global butter and ghee consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
3015
Global butter and ghee exports amounted to X thousand tons in 2015, coming down by -X% against the previous year level.
6430
Global butter and ghee imports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
6855
In 2015, the countries with the highest levels of butter and ghee production were Turkey (X thousand tons), Iran (X thousand tons), Syria (X thousand tons), together accounting for X% of total output.
1077
The global butter and ghee market fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015.
2840
The market of butter and ghee fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015. Over the last year, the market dropped by X% in value terms.
1862
New Zealand seized control of the butter and ghee market. In 2014, New Zealand exported X thousand tons of butter and ghee totaling X USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total but
1623
New Zealand continued its dominance in the global ghee trade. In 2014, New Zealand exported X thousand tons of ghee totaling X million USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total ghee
55
Explore the top import markets for butter in the world based on data from IndexBox platform. Learn about the countries importing the most butter and the trends driving global butter trade.
268
The butter market is projected to experience steady growth over the next seven years, driven by increasing demand worldwide. Market performance is expected to see a CAGR of +1.8% in volume and +3.5% in value from 2023 to 2030.
