Price for Butter and Other Fats and Oils Derived from Milk in Vietnam - 2022
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Vietnam (CIF) - 2022
- Price for Butter and Other Fats and Oils Derived from Milk in Vietnam (FOB) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in Vietnam
- Exports of Butter and Other Fats and Oils Derived from Milk in Vietnam
Price for Butter and Other Fats and Oils Derived from Milk in Vietnam (CIF) - 2022
In December 2022, the average import price for butter and other fats and oils derived from milk amounted to $7,080 per ton, remaining stable against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.9%. The growth pace was the most rapid in January 2022 an increase of 29% month-to-month. Over the period under review, average import prices reached the maximum at $7,433 per ton in May 2022; however, from June 2022 to December 2022, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was New Zealand ($7,089 per ton), while the price for France totaled $6,970 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by France (+2.8%).
Price for Butter and Other Fats and Oils Derived from Milk in Vietnam (FOB) - 2022
The average export price for butter and other fats and oils derived from milk stood at $7,954 per ton in 2022, with an increase of 33% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.3% 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 +56.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 55% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($7,956 per ton), while the average price for exports to Singapore ($7,956 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 Cambodia (+5.7%).
Imports of Butter and Other Fats and Oils Derived from Milk in Vietnam
Imports of butter and other fats and oils derived from milk into Vietnam declined markedly to 8.5K tons in 2022, falling by -43.7% compared with the previous year. Over the period under review, imports saw a sharp decrease. The pace of growth was the most pronounced in 2021 with an increase of 10%.
In value terms, imports of butter and other fats and oils derived from milk contracted remarkably to $62M in 2022. In general, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 23% against the previous year.
| Import of Butter and Other Fats and Oils Derived from Milk in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 92.0 | 61.9 | 79.7 | 54.9 | -15.8% |
| France | 4.4 | 4.1 | 3.6 | 4.5 | 0.8% |
| Netherlands | 1.7 | 2.5 | 0.9 | 0.2 | -51.0% |
| Others | 1.6 | 0.9 | 1.3 | 2.2 | 11.2% |
| Total | 99.8 | 69.3 | 85.5 | 61.9 | -14.7% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Vietnam in 2022:
- New Zealand (7.5K tons)
- France (0.7K tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Vietnam
Exports of butter and other fats and oils derived from milk from Vietnam surged to 1K tons in 2022, increasing by 50% compared with the previous year's figure. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 858%. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, exports of butter and other fats and oils derived from milk skyrocketed to $8.3M in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 697% against the previous year. Over the period under review, the exports of attained the peak figure 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 Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Philippines | N/A | N/A | N/A | 3.8 | 0% |
| Cambodia | 0.1 | 2.8 | 4.1 | 3.8 | 236.2% |
| Singapore | 0.2 | N/A | N/A | 0.7 | 51.8% |
| Lao People's Democratic Republic | 0.1 | 0.1 | 0.1 | N/A | 0.0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 0.4 | 2.9 | 4.2 | 8.3 | 174.8% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Vietnam in 2022:
- Philippines (479.3 tons)
- Cambodia (475.3 tons)
- Singapore (83.0 tons)
- Lao People's Democratic Republic (4.6 tons)
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This report provides an in-depth analysis of the butter and ghee market in Vietnam.
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This report provides an in-depth analysis of the ghee market in Vietnam.
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This report provides an in-depth analysis of the butter market in Vietnam.
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This report provides an in-depth analysis of the dairy produce market in Vietnam.
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This report provides an in-depth analysis of the market for butter and dairy spreads in Vietnam.
557
This report provides an in-depth analysis of the dairy spread market in Vietnam.
2148
This report provides an in-depth analysis of the global butter and ghee market.
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This report provides an in-depth analysis of the global ghee market.
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This report provides an in-depth analysis of the global butter market.
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This report provides an in-depth analysis of the global dairy produce market.
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Global butter and ghee consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
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Global butter and ghee exports amounted to X thousand tons in 2015, coming down by -X% against the previous year level.
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Global butter and ghee imports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
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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.
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The global butter and ghee market fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015.
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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.
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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
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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
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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.
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This year global butter production is anticipated to keep up with ha last year, amounting to 5.6M tons. The EU is forecast to decrease butter exports due to a slight drop in production amid an increase in demand. Butter exports from New Zealand are not forecast to grow due to increased competition with UHT cream for food service being increasingly in demand.
