Iran: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Iran

The Iranian margarine and shortening market shrank to $X in 2022, waning by -8.7% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Margarine and shortening consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Margarine And Shortening Production in Iran

In value terms, margarine and shortening production reduced to $X in 2022 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 44%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Margarine And Shortening Exports

Exports from Iran

In 2022, exports of margarine and shortening from Iran soared to X tons, increasing by 162% compared with 2021 figures. Overall, exports, however, continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2020 with an increase of 183%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, margarine and shortening exports soared to $X in 2022. Over the period under review, exports, however, saw a abrupt slump. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Kazakhstan (X tons) was the main destination for margarine and shortening exports from Iran, with a 86% share of total exports. Moreover, margarine and shortening exports to Kazakhstan exceeded the volume sent to the second major destination, Uzbekistan (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kazakhstan totaled +180.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+10.4% per year) and Azerbaijan (+187.7% per year).

In value terms, Kazakhstan ($X) emerged as the key foreign market for margarine and shortening exports from Iran, comprising 91% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 6.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Kazakhstan stood at +136.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+8.6% per year) and Azerbaijan (+142.5% per year).

Export Prices by Country

The average margarine and shortening export price stood at $X per ton in 2022, picking up by 23% against the previous year. In general, the export price saw perceptible growth. The growth pace was the most rapid in 2017 an increase of 141% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 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 Kazakhstan ($X per ton), while the average price for exports to Azerbaijan ($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 (+73.9%), while the prices for the other major destinations experienced mixed trend patterns.

Margarine And Shortening Imports

Imports into Iran

In 2022, approx. X tons of margarine and shortening were imported into Iran; waning by -21% on the year before. Overall, imports saw a abrupt decline. The growth pace was the most rapid in 2018 with an increase of 85% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, margarine and shortening imports declined markedly to $X in 2022. In general, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of 71%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest margarine and shortening supplier to Iran, accounting for a 13% share of total imports. Moreover, margarine and shortening imports from Turkey exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. Spain (X tons) ranked third in terms of total imports with a 0.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to -14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.8% per year) and Spain (+17.2% per year).

In value terms, Germany ($X) constituted the largest supplier of margarine and shortening to Iran, comprising 19% of total imports. The second position in the ranking was held by Turkey ($X), with a 9.6% share of total imports. It was followed by Switzerland, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +26.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-19.0% per year) and Switzerland (-8.9% per year).

Import Prices by Country

The average margarine and shortening import price stood at $X per ton in 2022, standing approx. at the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 14%. Over the period under review, average import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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