Iraq: Cheese Market 2024

Cheese Market Size in Iraq

The Iraqi cheese market reduced to $X in 2021, shrinking by -9.7% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Cheese consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Cheese Production in Iraq

In value terms, cheese production expanded to $X in 2021 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +13.3% against 2017 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 31% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Cheese Exports

Exports from Iraq

In 2021, the amount of cheese exported from Iraq fell remarkably to X tons, with a decrease of -23.5% on 2020. Overall, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 210% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then contracted markedly in the following year.

In value terms, cheese exports fell sharply to $X in 2021. In general, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 102%. The exports peaked at $X in 2020, and then shrank rapidly in the following year.

Exports by Country

Turkey (X tons) was the main destination for cheese exports from Iraq, accounting for a 97% share of total exports. It was followed by the United Arab Emirates (X tons), with a 2.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey stood at +23.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+87.8% per year) and Hungary (-91.7% per year).

In value terms, Turkey ($X) remains the key foreign market for cheese exports from Iraq, comprising 97% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 2.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Turkey stood at +26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+67.5% per year) and Hungary (-92.0% per year).

Export Prices by Country

The average cheese export price stood at $X per ton in 2021, growing by 8.3% against the previous year. Over the period under review, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cheese export price increased by +16.5% against 2018 indices. The growth pace was the most rapid in 2016 an increase of 37%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+2.4%), while the prices for the other major destinations experienced a decline.

Cheese Imports

Imports into Iraq

In 2021, overseas purchases of cheese decreased by -15.4% to X tons, falling for the fourth consecutive year after six years of growth. Over the period under review, imports, however, saw a mild increase. The growth pace was the most rapid in 2015 when imports increased by 46% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, cheese imports shrank to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 26%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Iran (X tons), Saudi Arabia (X tons) and Turkey (X tons) were the main suppliers of cheese imports to Iraq, with a combined 65% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +38.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X), Saudi Arabia ($X) and Turkey ($X) constituted the largest cheese suppliers to Iraq, together comprising 64% of total imports.

In terms of the main suppliers, Saudi Arabia, with a CAGR of +30.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cheese import price stood at $X per ton in 2021, growing by 2.9% against the previous year. In general, the import price, however, showed a slight decrease. The pace of growth was the most pronounced in 2020 an increase of 17% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Jordan ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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