Price for Butter and Other Fats and Oils Derived from Milk in Uzbekistan - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Uzbekistan (CIF) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in Uzbekistan (FOB) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in Uzbekistan
- Exports of Butter and Other Fats and Oils Derived from Milk in Uzbekistan
Price for Butter and Other Fats and Oils Derived from Milk in Uzbekistan (CIF) - 2023
In October 2023, the average import price for butter and other fats and oils derived from milk amounted to $5,760 per ton, dropping by -2.4% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 an increase of 28% month-to-month. The import price peaked at $7,843 per ton in January 2023; however, from February 2023 to October 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was France ($7,207 per ton), while the price for Lithuania ($2,856 per ton) was amongst the lowest.
From November 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Lithuania (+11.7%), 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 Uzbekistan (FOB) - 2022
The average export price for butter and other fats and oils derived from milk stood at $5,133 per ton in 2022, declining by -6% against the previous year. Over the period from 2017 to 2022, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2021 an increase of 38%. The export price peaked at $5,761 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
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 Tajikistan ($7,974 per ton), while the average price for exports to Georgia stood at $5,113 per ton.
From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+13.8%).
Imports of Butter and Other Fats and Oils Derived from Milk in Uzbekistan
In 2022, purchases abroad of butter and other fats and oils derived from milk decreased by -2.7% to 2.2K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +13.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. As a result, imports attained the peak of 2.3K tons, and then contracted slightly in the following year.
In value terms, imports of butter and other fats and oils derived from milk expanded rapidly to $12M in 2022. Overall, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +24.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +94.7% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 32%. Imports peaked in 2022 and are likely to see gradual growth in the near future.
| Import of Butter and Other Fats and Oils Derived from Milk in Uzbekistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 3.0 | 4.1 | 4.3 | 6.1 | 26.7% |
| Belarus | 0.6 | 0.6 | 1.1 | 1.6 | 38.7% |
| New Zealand | N/A | N/A | N/A | 1.4 | 0% |
| Finland | 0.5 | 0.9 | 1.2 | 1.0 | 26.0% |
| Iran | N/A | N/A | 0.8 | 0.8 | 0.0% |
| Lithuania | 0.2 | 0.3 | 1.1 | 0.8 | 58.7% |
| Kyrgyzstan | 0.2 | 0.2 | 0.4 | 0.3 | 14.5% |
| Ukraine | 0.3 | 0.4 | 0.5 | 0.1 | -30.7% |
| Turkey | 0.8 | N/A | N/A | N/A | 0% |
| Others | 0.9 | 1.9 | 1.8 | 0.4 | -23.7% |
| Total | 6.4 | 8.4 | 11.1 | 12.5 | 25.0% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Uzbekistan in 2022:
- France (924.2 tons)
- New Zealand (336.3 tons)
- Belarus (228.3 tons)
- Lithuania (200.9 tons)
- Finland (173.1 tons)
- Iran (162.1 tons)
- Kyrgyzstan (93.5 tons)
- Ukraine (15.1 tons)
- Turkey (6.7 tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Uzbekistan
In 2022, the amount of butter and other fats and oils derived from milk exported from Uzbekistan soared to 200 tons, with an increase of 32% on the previous year's figure. Overall, exports saw a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 311%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of butter and other fats and oils derived from milk skyrocketed to $1M in 2022. Over the period under review, exports showed a strong increase. The growth pace was the most rapid in 2021 when exports increased by 467% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Butter and Other Fats and Oils Derived from Milk in Uzbekistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Georgia | N/A | 145 | 829 | 1,018 | 165.0% |
| Tajikistan | 84.0 | N/A | N/A | 11.0 | -49.2% |
| Finland | 556 | N/A | N/A | N/A | 0% |
| Others | 3.8 | 0.8 | N/A | N/A | -78.9% |
| Total | 643 | 146 | 829 | 1,029 | 17.0% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Uzbekistan in 2022:
- Georgia (199.0 tons)
- Tajikistan (1.4 tons)
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