Bahrain: Ghee Market 2024

Ghee Market Size in Bahrain

The Bahraini ghee market expanded sharply to $X in 2022, increasing by 7.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Ghee Exports

Exports from Bahrain

Ghee exports from Bahrain plummeted to X tons in 2022, declining by -39% against the year before. Over the period under review, exports continue to indicate a slight descent. The growth pace was the most rapid in 2021 when exports increased by 1,357%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, ghee exports shrank remarkably to $X in 2022. In general, exports showed a mild setback. The pace of growth was the most pronounced in 2021 with an increase of 1,113%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons) was the main destination for ghee exports from Bahrain, with a 66% share of total exports. Moreover, ghee exports to Qatar exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold. The third position in this ranking was taken by Saudi Arabia (X kg), with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume to Qatar stood at +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+3.0% per year) and Saudi Arabia (-17.1% per year).

In value terms, Qatar ($X) remains the key foreign market for ghee exports from Bahrain, comprising 53% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 24% share of total exports. It was followed by Saudi Arabia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Qatar stood at +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+7.1% per year) and Saudi Arabia (-14.9% per year).

Export Prices by Country

The average ghee export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 32%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Qatar ($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 the United Arab Emirates (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into Bahrain

In 2022, supplies from abroad of ghee decreased by -7% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2020 with an increase of 54% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, ghee imports expanded significantly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 49% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

India (X tons), New Zealand (X tons) and the United Arab Emirates (X tons) were the main suppliers of ghee imports to Bahrain, with a combined 88% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +1.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, India ($X) constituted the largest supplier of ghee to Bahrain, comprising 51% of total imports. The second position in the ranking was held by New Zealand ($X), with a 23% share of total imports. It was followed by the United Arab Emirates, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from India stood at +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-2.4% per year) and the United Arab Emirates (+1.7% per year).

Import Prices by Country

The average ghee import price stood at $X per ton in 2022, growing by 17% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee import price increased by +45.7% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 24%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform