Central Asia: Ghee Market 2024

Ghee Market Size in Central Asia

The Central Asian ghee market declined slightly to $X in 2022, with a decrease of -2.3% against the previous year. In general, consumption, however, continues to indicate a mild descent. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Ghee Production in Central Asia

In value terms, ghee production reduced to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 73%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

The country with the largest volume of ghee production was Mongolia (X tons), accounting for 98% of total volume. It was followed by Kyrgyzstan (X tons), with a 2% share of total production.

From 2012 to 2022, the average annual rate of growth in terms of volume in Mongolia amounted to -1.4%.

Ghee Exports

Exports in Central Asia

In 2022, approx. X tons of ghee were exported in Central Asia; waning by -83.2% against 2021. Over the period under review, exports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 310%. As a result, the exports reached the peak of X tons, and then reduced notably in the following year.

In value terms, ghee exports fell dramatically to $X in 2022. Overall, exports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2021 when exports increased by 297% against the previous year. As a result, the exports attained the peak of $X, and then fell sharply in the following year.

Exports by Country

Kazakhstan (X tons) and Kyrgyzstan (X tons) represented roughly 84% of total exports in 2022. It was distantly followed by Uzbekistan (X tons), comprising a 15% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Kyrgyzstan (with a CAGR of +96.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest ghee supplying countries in Central Asia were Kazakhstan ($X), Uzbekistan ($X) and Kyrgyzstan ($X), together comprising 99% of total exports.

In terms of the main exporting countries, Kyrgyzstan, with a CAGR of +88.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2022, waning by -14.7% against the previous year. Over the period under review, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2018 an increase of 13%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+2.6%), while the other leaders experienced a decline in the export price figures.

Ghee Imports

Imports in Central Asia

Ghee imports dropped significantly to X tons in 2022, declining by -51.5% compared with the previous year. Over the period under review, imports, however, enjoyed a mild increase. The most prominent rate of growth was recorded in 2016 when imports increased by 150% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, ghee imports fell notably to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 104% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Kazakhstan was the major importer of ghee in Central Asia, with the volume of imports recording X tons, which was approx. 78% of total imports in 2022. Mongolia (X tons) ranks second in terms of the total imports with a 13% share, followed by Uzbekistan (8.3%).

From 2012 to 2022, average annual rates of growth with regard to ghee imports into Kazakhstan stood at +8.3%. At the same time, Uzbekistan (+687.5%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +687.5% from 2012-2022. By contrast, Mongolia (-4.7%) illustrated a downward trend over the same period. While the share of Kazakhstan (+38 p.p.) and Uzbekistan (+8.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mongolia (-11 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) constitutes the largest market for imported ghee in Central Asia, comprising 77% of total imports. The second position in the ranking was held by Mongolia ($X), with a 20% share of total imports.

In Kazakhstan, ghee imports expanded at an average annual rate of +8.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mongolia (-0.7% per year) and Uzbekistan (+345.0% per year).

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per ton, picking up by 26% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mongolia ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mongolia (+4.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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