Tridge summary
A report by IndexBox and Milknews provides an overview of the global butter market in 2021. The report forecasts a slight increase in global butter production to 5.6 million tons, despite a decrease in the European Union's production by 0.8% due to domestic demand. New Zealand's production and export levels are expected to remain stable. The US is set to increase butter exports, with Egypt, Saudi Arabia, and Bahrain as the primary recipients, benefiting from higher world market prices. The EU is experiencing a growth in imports due to decreased production, with China emerging as a significant market. Since 2012, butter exports have seen a consistent increase, with Ireland, the Netherlands, and New Zealand being the leading exporters. The UK has shown the most significant growth in both volume and monetary terms among the exporting countries.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
According to an analytical report IndexBox on the global situation in the oil market, writes Milknews. Key figures and trends According to USDA forecasts, butter production in 2021 will be 5.6 million tons, which is almost the same as last year. The figures will remain at the same level due to the situation in the European Union, where production will fall by 0.8% to 2 million tons. The European Commission estimated the reduction in supplies from the EU from January to May 2021 at 20% compared to the same period last year. Analysts attribute this to the growth of domestic demand against the background of declining production. If the trend continues until the end of the year, exports from the EU could lose up to 19% or 800 million tons. External shipments from New Zealand will also remain at last year's level amid a stable level of domestic production. At the end of 2020, oil prices began to rise and continued in the first quarter of 2021, which may create an additional incentive ...
Source: MilkUA
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.