Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Vietnam - 2022

Contents:

1. Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Vietnam (CIF) - 2022
2. Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Vietnam (FOB) - 2022
3. Imports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Vietnam
4. Exports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Vietnam

Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Vietnam (CIF) - 2022

The average import price for powdered sweetened milk and cream of fat weight content over 1.5% stood at $6,900 per ton in 2022, jumping by 80% against the previous year. In general, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for powdered sweetened milk and cream of fat weight content over 1.5% increased by +95.3% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($30,668 per ton), while the price for the United States ($822 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+24.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Vietnam (FOB) - 2022

In 2022, the average export price for powdered sweetened milk and cream of fat weight content over 1.5% amounted to $7,411 per ton, growing by 8.1% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +8.5% 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 powdered sweetened milk and cream of fat weight content over 1.5% increased by +26.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 49% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($25,114 per ton), while the average price for exports to the Philippines ($1,236 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 Hong Kong SAR (+26.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Vietnam

For the fourth year in a row, Vietnam recorded growth in purchases abroad of powdered sweetened milk and cream of fat weight content over 1.5%, which increased by 6.3% to 1.5K tons in 2022. In general, imports recorded a significant expansion. The growth pace was the most rapid in 2020 with an increase of 716% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, imports of powdered sweetened milk and cream of fat weight content over 1.5% surged to $10M in 2022. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 739%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Top Suppliers of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% to Vietnam in 2022:

1. Australia (1035.3 tons)
2. Philippines (160.2 tons)
3. Malaysia (118.1 tons)
4. Germany (102.3 tons)
5. Netherlands (16.6 tons)

Exports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Vietnam

In 2022, exports of powdered sweetened milk and cream of fat weight content over 1.5% from Vietnam fell significantly to 292 tons, with a decrease of -16.7% on the previous year's figure. Over the period under review, exports saw a deep reduction. The smallest decline of -16.7% was in 2021.

In value terms, exports of powdered sweetened milk and cream of fat weight content over 1.5% contracted to $2.2M in 2022. In general, exports recorded a drastic downturn.

Top Export Markets for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% from Vietnam in 2022:

1. Philippines (160.4 tons)
2. China (121.3 tons)

Source: IndexBox Market Intelligence Platform