Iran: Butter Market 2024

Butter Market Size in Iran

The Iranian butter market reduced to $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, consumption, however, showed a mild downturn. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Butter Production in Iran

In value terms, butter production declined slightly to $X in 2022 estimated in export price. Overall, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 -9.4% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 58%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Butter Exports

Exports from Iran

In 2022, approx. X tons of butter were exported from Iran; waning by -40.2% on the year before. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2015 when exports increased by 635%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter exports declined remarkably to $X in 2022. In general, exports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 378% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Azerbaijan (X tons) was the main destination for butter exports from Iran, accounting for a 71% share of total exports. Moreover, butter exports to Azerbaijan exceeded the volume sent to the second major destination, Armenia (X tons), sixfold. Kazakhstan (X tons) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Azerbaijan amounted to +147.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (-43.8% per year) and Kazakhstan (+53.3% per year).

In value terms, Azerbaijan ($X) remains the key foreign market for butter exports from Iran, comprising 74% of total exports. The second position in the ranking was held by Armenia ($X), with an 11% share of total exports. It was followed by Kazakhstan, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Azerbaijan totaled +135.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (-44.4% per year) and Kazakhstan (+60.5% per year).

Export Prices by Country

The average butter export price stood at $X per ton in 2022, with an increase of 1.9% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 53% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Kazakhstan ($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 Russia (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Iran

In 2022, after two years of decline, there was significant growth in supplies from abroad of butter, when their volume increased by 9.4% to X tons. Overall, imports, however, continue to indicate a precipitous shrinkage. The pace of growth was the most pronounced in 2019 when imports increased by 43% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, butter imports amounted to $X in 2022. Over the period under review, imports, however, recorded a dramatic decrease. The pace of growth appeared the most rapid in 2018 when imports increased by 8.3% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the UK (X tons) was the main supplier of butter to Iran, with a 91% share of total imports. Moreover, butter imports from the UK exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK stood at +110.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+131.9% per year) and Brazil (+448.4% per year).

In value terms, the UK ($X) constituted the largest supplier of butter to Iran, comprising 89% of total imports. The second position in the ranking was taken by Turkey ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the UK amounted to +91.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+116.6% per year) and Brazil (+431.7% per year).

Import Prices by Country

The average butter import price stood at $X per ton in 2022, waning by -2.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2020 an increase of 20%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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