Price for Butter and Other Fats and Oils Derived from Milk in Slovakia - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Slovakia (CIF) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in Slovakia (FOB) - 2023
- Imports of Butter and Other Fats and Oils Derived from Milk in Slovakia
- Exports of Butter and Other Fats and Oils Derived from Milk in Slovakia
Price for Butter and Other Fats and Oils Derived from Milk in Slovakia (CIF) - 2023
The average import price for butter and other fats and oils derived from milk stood at $6,217 per ton in September 2023, approximately equating the previous month. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in December 2022 an increase of 22% month-to-month. As a result, import price attained the peak level of $7,805 per ton. From January 2023 to September 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Germany ($6,913 per ton), while the price for the Czech Republic ($4,469 per ton) was amongst the lowest.
From October 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the Czech Republic (+2.7%), while the prices for the other major suppliers experienced a decline.
Price for Butter and Other Fats and Oils Derived from Milk in Slovakia (FOB) - 2023
In November 2023, the average export price for butter and other fats and oils derived from milk amounted to $7,315 per ton, with an increase of 12% against the previous month. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in December 2022 an increase of 20% m-o-m. As a result, the export price attained the peak level of $7,903 per ton. From January 2023 to November 2023, the the average export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was the United Arab Emirates ($9,985 per ton), while the average price for exports to the UK ($4,933 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Montenegro (+7.1%), 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 Slovakia
In 2022, supplies from abroad of butter and other fats and oils derived from milk decreased by -1.1% to 15K tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a mild decline. The growth pace was the most rapid in 2020 with an increase of 5.2% against the previous year. As a result, imports attained 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 surged to $91M in 2022. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +12.5% 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 +42.6% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Butter and Other Fats and Oils Derived from Milk in Slovakia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 37.1 | 35.0 | 38.1 | 50.7 | 11.0% |
| Poland | 15.7 | 17.3 | 22.5 | 31.4 | 26.0% |
| Czech Republic | 9.2 | 9.5 | 9.5 | 6.9 | -9.1% |
| Others | 2.0 | 2.0 | 3.0 | 2.0 | 0.0% |
| Total | 64.0 | 63.8 | 73.0 | 91.0 | 12.4% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Slovakia in 2022:
- Germany (8.9K tons)
- Poland (4.7K tons)
- Czech Republic (1.6K tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Slovakia
In 2022, exports of butter and other fats and oils derived from milk from Slovakia totaled 1.3K tons, stabilizing at 2021 figures. Overall, exports, however, showed a precipitous slump. The pace of growth appeared the most rapid in 2021 with an increase of 4% against the previous year.
In value terms, exports of butter and other fats and oils derived from milk surged to $8.7M in 2022. In general, exports, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 23% against the previous year.
| Export of Butter and Other Fats and Oils Derived from Milk in Slovakia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Czech Republic | 6.4 | 1.7 | 2.2 | 4.0 | -14.5% |
| Hungary | 1.8 | 2.2 | 2.9 | 3.0 | 18.6% |
| Romania | 1.8 | 0.9 | 0.6 | 0.7 | -27.0% |
| Austria | 0.3 | 0.3 | 0.3 | 0.4 | 10.1% |
| South Korea | 0.1 | 0.1 | 0.3 | 0.2 | 26.0% |
| Bulgaria | 0.3 | N/A | N/A | N/A | 0% |
| Greece | 0.5 | 0.2 | N/A | N/A | -60.0% |
| Poland | 0.4 | 0.3 | 0.3 | N/A | -13.4% |
| Others | 0.3 | 0.1 | 0.4 | 0.4 | 10.1% |
| Total | 11.8 | 5.8 | 7.2 | 8.7 | -9.7% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Slovakia in 2022:
- Czech Republic (574.4 tons)
- Hungary (402.6 tons)
- Austria (113.5 tons)
- Romania (104.7 tons)
- South Korea (25.5 tons)
- Poland (3.0 tons)
- Bulgaria (1.3 tons)
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