CIS: Ghee Market 2025

Ghee Market Size in CIS

The CIS ghee market soared to $X in 2022, with an increase of 21% against the previous year. In general, consumption saw slight growth. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Ghee Production in CIS

In value terms, ghee production expanded slightly to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 31% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The country with the largest volume of ghee production was Belarus (X tons), comprising approx. 84% of total volume. Moreover, ghee production in Belarus exceeded the figures recorded by the second-largest producer, Kyrgyzstan (X tons), sixfold.

In Belarus, ghee production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Kyrgyzstan (+242.2% per year) and Uzbekistan (+1.8% per year).

Ghee Exports

Exports in CIS

In 2022, shipments abroad of ghee increased by 44% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by 79% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, ghee exports skyrocketed to $X in 2022. Overall, exports enjoyed significant growth. The growth pace was the most rapid in 2019 with an increase of 128%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Belarus dominates exports structure, recording X tons, which was approx. 79% of total exports in 2022. It was distantly followed by Armenia (X tons) and Russia (X tons), together committing a 15% share of total exports. The following exporters - Kazakhstan (X tons) and Kyrgyzstan (X tons) - each resulted at a 5.5% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to ghee exports from Belarus stood at +35.5%. At the same time, Armenia (+106.5%), Kyrgyzstan (+96.4%) and Kazakhstan (+9.1%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +106.5% from 2012-2022. By contrast, Russia (-12.7%) illustrated a downward trend over the same period. While the share of Belarus (+66 p.p.), Armenia (+8.4 p.p.) and Kyrgyzstan (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Russia (-77 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belarus ($X) emerged as the largest ghee supplier in the CIS, comprising 80% of total exports. The second position in the ranking was held by Armenia ($X), with an 11% share of total exports. It was followed by Russia, with a 5.4% share.

In Belarus, ghee exports expanded at an average annual rate of +41.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Armenia (+121.9% per year) and Russia (-4.6% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, increasing by 27% against the previous year. Over the period under review, the export price posted a strong increase. The pace of growth appeared the most rapid in 2013 an increase of 28%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Armenia ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+9.3%), while the other leaders experienced more modest paces of growth.

Ghee Imports

Imports in CIS

In 2022, approx. X tons of ghee were imported in the CIS; jumping by 23% on 2021. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 80%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, ghee imports soared to $X in 2022. Over the period under review, imports saw a measured increase. The growth pace was the most rapid in 2013 when imports increased by 118%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Russia prevails in imports structure, finishing at X tons, which was near 85% of total imports in 2022. It was distantly followed by Azerbaijan (X tons), committing an 8.1% share of total imports. The following importers - Kazakhstan (X tons) and Armenia (X tons) - each amounted to a 6.3% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to ghee imports into Russia stood at +3.3%. At the same time, Armenia (+11.6%) and Kazakhstan (+8.3%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing importer imported in the CIS, with a CAGR of +11.6% from 2012-2022. By contrast, Azerbaijan (-15.2%) illustrated a downward trend over the same period. Russia (+28 p.p.), Armenia (+2.2 p.p.) and Kazakhstan (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Azerbaijan saw its share reduced by -30.9% from 2012 to 2022, respectively.

In value terms, Russia ($X) constitutes the largest market for imported ghee in the CIS, comprising 83% of total imports. The second position in the ranking was held by Azerbaijan ($X), with an 11% share of total imports. It was followed by Armenia, with a 3.6% share.

In Russia, ghee imports expanded at an average annual rate of +4.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Azerbaijan (-1.0% per year) and Armenia (+18.0% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, with an increase of 6.1% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 an increase of 42%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Azerbaijan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+16.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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