In the first half of 2023, the Asian butter market experienced mixed price patterns. Increased milk yield was overshadowed by even higher consumption, especially in China and India after the lifting of Covid-19 restrictions. This led to mostly inclined butter prices in the domestic markets of China and India. In Europe, butter prices stabilized and eventually declined as supply chains normalized, resulting in ample product availability and stocking in the market. The European butter market sought equilibrium between supply and demand. North America also showed mixed price sentiments, with prices gradually inclining in the second quarter as demand stabilized and upstream costs decreased.
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Definition
Butter is a dairy product made from churning cream, separating the fat from the liquid, resulting in a smooth, semi-solid texture. It is widely used in cooking, baking, and as a spread on bread and other food items. Butter adds richness and flavor to dishes and is a common ingredient in various cuisines worldwide. Its versatility makes it a staple in both sweet and savory recipes, making it a cherished and popular ingredient in the culinary world.
Key Details About the Butter Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Butter in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Butter Price chart, including India Butter price, USA Butter price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Butter Price Trend:
Butter finds several key industrial uses in various sectors. In the food industry, it is used as a primary ingredient in cooking and baking, enhancing the taste and texture of a wide range of dishes. Additionally, it serves as a popular spread for bread and other food items. In the manufacturing of processed foods, butter adds richness and flavor. Its versatility and widespread popularity make it a valuable component in the culinary and food processing industries.
Key Players:
- Fonterra Co-operative Group
- Arla Foods Amba
- Lactalis Group
- Unilever PLC
- Kerrygold USA
News & Recent Development:
The milk situation in India is generally comfortable, but concerns have arisen regarding stocks of butter/ghee during the lean summer months. After the COVID-19 pandemic began, more people turned to processed and packed milk, resulting in a 10 percent rise in milk consumption in the organized sector. Unseasonal rains impacted fodder availability, but they extended the milk production season, potentially increasing milk output. However, the continuous inflation in milk and milk product prices over the last five months has worried domestic consumers. The increase in milk prices is attributed to rising input costs, particularly fodder prices, and lumpy disease affecting cattle. Efforts are being made to stabilize the milk market and maintain an ample supply during lean seasons.
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