U.S.: Butter And Ghee Market 2024

Butter And Ghee Market Size in the U.S.

In 2022, the U.S. butter and ghee market decreased by X% to $X, falling for the third consecutive year after six years of growth. Over the period under review, consumption, however, posted a resilient expansion. Butter and ghee consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Butter And Ghee Production in the U.S.

In value terms, butter and ghee production shrank modestly to $X in 2022. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Butter and ghee production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Butter And Ghee Exports

Exports from the U.S.

In 2022, overseas shipments of butter and ghee increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports saw a resilient increase. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, butter and ghee exports skyrocketed to $X in 2022. Overall, exports recorded moderate growth. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for butter and ghee exports from the United States, accounting for a X% share of total exports. Moreover, butter and ghee exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), twofold. The third position in this ranking was taken by Bahrain (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Bahrain (X% per year).

In value terms, Canada ($X) remains the key foreign market for butter and ghee exports from the United States, comprising X% of total exports. The second position in the ranking was held by Bahrain ($X), with a X% share of total exports. It was followed by Mexico, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (X% per year) and Mexico (X% per year).

Export Prices by Country

The average butter and ghee export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Mexico ($X 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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into the U.S.

In 2022, overseas purchases of butter and ghee were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, butter and ghee imports skyrocketed to $X in 2022. Over the period under review, imports recorded significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Ireland (X tons) constituted the largest supplier of butter and ghee to the United States, accounting for a X% share of total imports. Moreover, butter and ghee imports from Ireland exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), threefold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Ireland amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and India (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value from Ireland totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and France (X% per year).

Import Prices by Country

In 2022, the average butter and ghee import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for India ($X 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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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