Guatemala: Butter And Ghee Market 2024

Butter And Ghee Market Size in Guatemala

The Guatemalan butter and ghee market declined sharply to $X in 2023, dropping by X% against the previous year. Overall, consumption, however, saw a slight decline. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2023, consumption remained at a lower figure.

Butter And Ghee Production in Guatemala

In value terms, butter and ghee production dropped to $X in 2023 estimated in export price. Overall, production continues to indicate moderate growth. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2023, production growth failed to regain momentum.

Butter And Ghee Exports

Exports from Guatemala

For the seventh year in a row, Guatemala recorded growth in shipments abroad of butter and ghee, which increased by X% to X tons in 2023. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, the exports reached the maximum in 2023 and are likely to continue growth in the immediate term.

In value terms, butter and ghee exports surged to $X in 2023. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in the near future.

Exports by Country

Honduras (X tons) and El Salvador (X tons) were the main destinations of butter and ghee exports from Guatemala.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Honduras (with a CAGR of X%).

In value terms, Honduras ($X) and El Salvador ($X) appeared to be the largest markets for butter and ghee exported from Guatemala worldwide.

Honduras, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2023, the average butter and ghee export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, recorded a mild expansion. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2023, the average export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to El Salvador amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (X%), while the prices for the other major destinations experienced mixed trend patterns.

Butter And Ghee Imports

Imports into Guatemala

In 2023, butter and ghee imports into Guatemala totaled X tons, with an increase of X% compared with the previous year's figure. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 with an increase of X%. Imports peaked at X tons in 2013; however, from 2014 to 2023, imports remained at a lower figure.

In value terms, butter and ghee imports declined to $X in 2023. In general, imports enjoyed a strong expansion. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2023, New Zealand (X tons) constituted the largest supplier of butter and ghee to Guatemala, with a X% share of total imports. Moreover, butter and ghee imports from New Zealand exceeded the figures recorded by the second-largest supplier, Costa Rica (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from New Zealand totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (X% per year) and the United States (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter and ghee to Guatemala, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Costa Rica, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from New Zealand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Costa Rica (X% per year).

Import Prices by Country

In 2023, the average butter and ghee import price amounted to $X per ton, which is down by X% against the previous year. In general, import price indicated a strong increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, butter and ghee import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2022 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Honduras (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform