Ghee market defies trade slump with soaring prices in 2024
The global ghee market faced another challenging year in 2024. Both imports and exports of the stock market today fell for the second time in a row, with trade volumes dropping by noticeable margins. Despite this decline, prices for ghee rose sharply on both sides of the stock market.
Global ghee production reached a value of $X in 2024, though the overall stock market size shrank by X% compared to 2023. Over the past decade, however, production had grown steadily at an average annual rate of X%.
Imports declined by X%, bringing total volumes down to X tons. Exports also fell by X%, settling at X tons. These figures reflect a relatively stable but downward trend in international trade over recent years.
Prices told a different story. The average import price climbed to $X per ton, up by X% from 2023. Export prices saw an even steeper rise, reaching $X per ton—a surge of X% over the previous year.
India remained the world’s top producer, responsible for X% of total ghee output. Meanwhile, New Zealand led exports, shipping approximately X tons, which accounted for X% of the global total. Consumption, however, continued its long-term growth, increasing at an average annual rate of X% since 2012.
No specific data on Germany’s ghee market was available, though global projections for the combined butter and ghee sector suggest a market value of USD 53,935.63 million starting in 2025.
The ghee market in 2024 showed contrasting trends: trade volumes fell, but prices rose significantly. India and New Zealand maintained their dominance in production and exports, respectively. With consumption still growing over the long term, the sector’s future will likely depend on balancing supply constraints with rising demand.
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