• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

U.S. Butter Prices Soar 40% y/y on Labour Shortage and Rising Packaging Costs

January 4, 2022
in Trading
Reading Time: 2 mins read
A A
0
U.S. Butter Prices Soar 40% y/y on Labour Shortage and Rising Packaging Costs
0
SHARES
7
VIEWS
ShareShareShareShareShare

IndexBox has just published a new report: ‘U.S. – Butter – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.

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.       

According to recent USDA data, prices for Grade AA butter averaged $2.02 per pound for the week ending December 11, 2021, a 40%-increase compared to December 2020. The main reason for that spike was the insufficient supply owing to the reducing milk cow herd and the labour shortage. Over January-October 2021, total butter production reduced by 11% to 1.6M lb against the figures of the same period last year. The rising cost of packaging materials also contributes to higher butter prices. Over the past month, butter prices rose 3.7%, driven by strong seasonal demand. The current challenges are expected to persist in the following year, and butter prices will climb further.

US Butter Imports in 2020

Last year, approx. 33K tonnes of butter were imported into the U.S., waning by -23.9% against 2019. In value terms, the purchases declined to $277M (IndexBox estimates).

Ireland (25K tonnes) constituted the largest butter supplier to the U.S., accounting for a 77% share of total volume. Moreover, butter imports from Ireland exceeded the figures recorded by the second-largest supplier, New Zealand (3.1K tonnes), eightfold. The third position in this ranking was occupied by France (1.4K tonnes), with a 4.1% share.

In value terms, Ireland ($222M) constituted the largest butter supplier to the U.S., comprising 80% of total imports. The second position in the ranking was occupied by New Zealand ($19M), with a 7% share of total imports. It was followed by France, with a 4.8% share.

In 2020, the average annual growth rate of value from Ireland stood at +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-18.6% per year) and France (-8.2% per year).

Source: IndexBox Platform

Credit: Source link

ShareTweetSendPinShare
Previous Post

Third-Largest Bitcoin Whale Adds $21M Worth of BTC at $46.3K

Next Post

AMERICA’S PORTS FINALLY ADDRESS LONG OVERDUE INFRASTRUCTURE NEEDS

Related Posts

Strategic Cost Management Helps Energy Companies Uncover Supply Chain Inefficiencies
Trading

Plans For a Minimum Tax On Profits Of Multinationals- Global Trade Mag

June 26, 2022
4
Wiliot Revolutionizes Cold Chain Operations
Trading

Wiliot Revolutionizes Cold Chain Operations

June 25, 2022
8
How Virtual Credit Cards Are Powering New Digital Business Models
Trading

How Virtual Credit Cards Are Powering New Digital Business Models

June 24, 2022
9
SEKO Logistics Taps MyFBAPrep to be Preferred Amazon FBA Partner
Trading

SEKO Logistics Taps MyFBAPrep to be Preferred Amazon FBA Partner

June 24, 2022
4
Managing Organization Device Fleet with IoT Device
Trading

Managing Organization Device Fleet with IoT Device

June 24, 2022
6
Next Post
AMERICA’S PORTS FINALLY ADDRESS LONG OVERDUE INFRASTRUCTURE NEEDS

AMERICA’S PORTS FINALLY ADDRESS LONG OVERDUE INFRASTRUCTURE NEEDS

Recommended

EU Leaders Back Push to Ban Most Russia Oil Over Putin’s War

EU Leaders Back Push to Ban Most Russia Oil Over Putin’s War

May 31, 2022
5
Meta Apes Taps The BNB Application SideChain To Enable Web3 Gaming Benefits

Meta Apes Taps The BNB Application SideChain To Enable Web3 Gaming Benefits

June 1, 2022
6
ESMA Chair says crypto needs urgent regulation to protect investors

ESMA Chair says crypto needs urgent regulation to protect investors

May 27, 2022
6
Hong Kong classifies NFTs as financial asset, mandates licensing

Hong Kong classifies NFTs as financial asset, mandates licensing

June 7, 2022
6
Dutch Premier Says It’s Up to Italy to Contain Bond Spreads

Dutch Premier Says It’s Up to Italy to Contain Bond Spreads

June 26, 2022
5
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • These Are the Two Challenges for XRP Following 30% Recovery in 9 Days (Ripple Price Analysis)
  • Stocks pace towards worst start since 1970
  • U.S. families face ‘exponential increase’ in child care costs: Care.com CEO

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?