Egypt: Honey Market 2024

Honey Market Size in Egypt

The Egyptian honey market dropped modestly to $X in 2022, declining by -2.8% against the previous year. Over the period under review, consumption continues to indicate a pronounced reduction. Honey consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Honey Production in Egypt

In value terms, honey production surged to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 136% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Honey Exports

Exports from Egypt

In 2022, overseas shipments of honey were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports saw a moderate increase. The growth pace was the most rapid in 2014 when exports increased by 70%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, honey exports expanded notably to $X in 2022. Over the period under review, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2014 when exports increased by 32% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Saudi Arabia (X tons), Morocco (X tons) and Tunisia (X tons) were the main destinations of honey exports from Egypt, with a combined 71% share of total exports. The United Arab Emirates, Jordan, Kenya, Kuwait, Malaysia, the United States, Indonesia and Iraq lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +30.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Morocco ($X) and Tunisia ($X) appeared to be the largest markets for honey exported from Egypt worldwide, together accounting for 71% of total exports. The United Arab Emirates, Jordan, Kenya, Kuwait, Malaysia, the United States, Indonesia and Iraq lagged somewhat behind, together accounting for a further 25%.

Among the main countries of destination, Malaysia, with a CAGR of +30.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average honey export price stood at $X per ton in 2022, declining by -10% against the previous year. In general, the export price, however, posted a perceptible increase. The growth pace was the most rapid in 2020 when the average export price increased by 81% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Iraq ($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 States (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Egypt

After three years of growth, purchases abroad of honey decreased by -77.7% to X tons in 2022. Over the period under review, imports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 372%. Imports peaked at X tons in 2021, and then contracted rapidly in the following year.

In value terms, honey imports dropped dramatically to $X in 2022. Overall, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 740% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then dropped markedly in the following year.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest honey supplier to Egypt, with a 72% share of total imports. Moreover, honey imports from New Zealand exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by the United States (X kg), with a 0.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand amounted to +123.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+23.6% per year) and the United States (-42.2% per year).

In value terms, New Zealand ($X) constituted the largest supplier of honey to Egypt, comprising 72% of total imports. The second position in the ranking was taken by Germany ($X), with a 26% share of total imports. It was followed by the United States, with a 0.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand stood at +129.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+26.9% per year) and the United States (-35.4% per year).

Import Prices by Country

The average honey import price stood at $X per ton in 2022, rising by 8.8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 92%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per ton) and New Zealand ($X per ton), while the price for Spain ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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