Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in India - 2023

Contents:

1. Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in India (FOB) - 2023
2. Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in India (CIF) - 2023
3. Exports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in India
4. Imports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in India

Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in India (FOB) - 2023

The average export price for cheese, other than blue-veined, grated, powdered or processed stood at $5,454 per ton in November 2023, increasing by 12% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.8%. The pace of growth was the most pronounced in May 2023 an increase of 21% month-to-month. As a result, the export price reached the peak level of $6,166 per ton. From June 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 overseas markets. In November 2023, the country with the highest price was Nepal ($26,678 per ton), while the average price for exports to Kuwait ($3,675 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 Nepal (+15.2%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in India (CIF) - 2023

In November 2023, the average import price for cheese, other than blue-veined, grated, powdered or processed amounted to $6,598 per ton, falling by -12.7% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in June 2023 when the average import price increased by 26% month-to-month. The import price peaked at $8,351 per ton in March 2023; however, from April 2023 to November 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Italy ($8,172 per ton), while the price for Germany ($2,165 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Italy (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in India

Exports of cheese, other than blue-veined, grated, powdered or processed from India soared to 6.2K tons in 2022, jumping by 22% compared with the previous year's figure. The total export volume increased at an average annual rate of +14.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 29%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, exports of cheese, other than blue-veined, grated, powdered or processed skyrocketed to $28M in 2022. Over the period under review, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +15.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 36%. The exports peaked in 2022 and are expected to retain growth in the near future.

Top Export Markets for Cheese, Other than Blue-Veined, Grated, Powdered or Processed from India in 2022:

1. United Arab Emirates (1851.6 tons)
2. United States (911.0 tons)
3. Singapore (687.0 tons)
4. Saudi Arabia (460.2 tons)
5. Kuwait (357.6 tons)
6. Oman (303.5 tons)
7. Bahrain (237.5 tons)
8. Bhutan (227.8 tons)
9. Philippines (187.2 tons)
10. Nepal (157.9 tons)
11. Hong Kong SAR (145.0 tons)
12. Qatar (144.1 tons)
13. Sri Lanka (111.6 tons)

Imports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in India

In 2022, approx. 1.1K tons of cheese, other than blue-veined, grated, powdered or processed were imported into India; growing by 142% compared with the previous year's figure. Over the period under review, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of cheese, other than blue-veined, grated, powdered or processed soared to $7M in 2022. In general, imports enjoyed a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Cheese, Other than Blue-Veined, Grated, Powdered or Processed to India in 2022:

1. Italy (336.9 tons)
2. United Kingdom (190.8 tons)
3. Estonia (178.7 tons)
4. Netherlands (115.6 tons)
5. France (71.9 tons)
6. Denmark (61.2 tons)
7. Latvia (44.9 tons)
8. Germany (24.6 tons)

Source: IndexBox Market Intelligence Platform