U.S. - Butter And Ghee - Market Analysis, Forecast, Size, Trends and Insights
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View PricingButter and Ghee Price in the United States - 2023
Contents:
- Butter and Ghee Price in the United States (CIF) - 2022
- Butter and Ghee Price in the United States (FOB) - 2022
- Butter and Ghee Imports in the United States
- Butter and Ghee Exports in the United States
Butter and Ghee Price in the United States (CIF) - 2022
In 2022, the average butter and ghee import price amounted to $6,929 per ton, increasing by 6.9% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and ghee import price increased by +16.2% against 2020 indices. The pace of growth was the most pronounced in 2018 an increase of 26% against the previous year. As a result, import price reached the peak level of $8,140 per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.
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 Ireland ($8,679 per ton), while the price for India ($1,426 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Butter and Ghee Price in the United States (FOB) - 2022
The average butter and ghee export price stood at $3,323 per ton in 2022, with a decrease of -10.5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 10% against the previous year. Over the period under review, the average export prices hit record highs at $3,956 per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($5,251 per ton), while the average price for exports to Mexico ($2,009 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 Iran (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.
Butter and Ghee Imports in the United States
In 2022, purchases abroad of butter and ghee was finally on the rise to reach 72K tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.6% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, butter and ghee imports surged to $500M in 2022. The total import value increased at an average annual rate of +7.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Butter and Ghee in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ireland | 221 | 217 | 269 | 334 | 14.8% |
| New Zealand | 50.8 | 33.4 | 48.5 | 87.4 | 19.8% |
| France | 14.6 | 13.0 | 18.1 | 22.3 | 15.2% |
| Mexico | 57.6 | 36.1 | 7.9 | 14.5 | -36.9% |
| India | 6.7 | 13.0 | 7.4 | 12.8 | 24.1% |
| Germany | 5.8 | 2.6 | 1.3 | 6.0 | 1.1% |
| Australia | 10.8 | 4.6 | 2.4 | 2.2 | -41.2% |
| Others | 38.0 | 37.1 | 23.6 | 21.4 | -17.4% |
| Total | 405 | 356 | 378 | 500 | 7.3% |
Top Suppliers of Butter and Ghee to the United States in 2022:
- Ireland (38.4K tons)
- New Zealand (14.4K tons)
- India (9.0K tons)
- France (2.7K tons)
- Mexico (2.1K tons)
- Germany (1.1K tons)
- Australia (0.5K tons)
Butter and Ghee Exports in the United States
In 2022, approx. 82K tons of butter and ghee were exported from the United States; with an increase of 42% against the year before. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 106%. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, butter and ghee exports skyrocketed to $272M in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 113%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Butter and Ghee in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 67.8 | 40.7 | 70.8 | 121 | 21.3% |
| Bahrain | 1.5 | 6.7 | 21.5 | 42.8 | 205.6% |
| Mexico | 11.6 | 11.0 | 12.7 | 29.4 | 36.3% |
| South Korea | 8.9 | 7.1 | 13.6 | 28.8 | 47.9% |
| Saudi Arabia | 7.6 | 14.8 | 20.2 | 9.8 | 8.8% |
| Egypt | N/A | 0.1 | 10.7 | 7.6 | 771.8% |
| Dominican Republic | 0.8 | 0.7 | 5.6 | 3.2 | 58.7% |
| Others | 25.4 | 19.5 | 59.5 | 29.6 | 5.2% |
| Total | 124 | 101 | 215 | 272 | 29.9% |
Top Export Markets for Butter and Ghee from the United States in 2022:
- Canada (35.3K tons)
- Mexico (14.7K tons)
- Bahrain (9.0K tons)
- South Korea (8.8K tons)
- Saudi Arabia (2.0K tons)
- Egypt (1.4K tons)
- Dominican Republic (1.4K tons)
This report provides an in-depth analysis of the butter and ghee market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 983 - Butter and Ghee of Sheep Milk
- FCL 1022 - Butter of Goat Milk
- FCL 952 - Butter of Buffalo Milk
- FCL 886 - Butter of Cow Milk
- FCL 887 - Ghee from Cow Milk
- FCL 953 - Ghee, from Buffalo Milk
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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In February 2023, the price of butter and ghee per ton (CIF, US) was $7,599, a 15% increase from the previous month.
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In July 2022, the butter price per ton amounted to $8,535 per ton, which is down by less than 0.1% against the previous month.
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In May 2022, the butter price per ton amounted to $6,839 per ton, surging by 9.6% against the previous month.
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The average price for Grade AA butter in the U.S. amounted to $2.02 per pound on December 11, 2021, increasing by 40% from the same period last year. Reducing milk cow herd, labour shortage, and the rising packaging materials costs constrain production growth, leading to insufficient supply in the market that results in the butter price surge. Demand for butter typically picks in Q4, when Americans consume more holiday cookies and other traditional dishes. In December, butter prices picked up 3.7% compared to the figures a month earlier.
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In value terms, dairy produce exports surged to $511M in March 2023.
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In terms of value, imports of Dairy Spread decreased to $2M in May 2023.
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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.
