Iraq: Market for Powdered, Evaporated And Condensed Milk 2024

Market Size for Powdered, Evaporated And Condensed Milk in Iraq

In 2022, the Iraqi market for powdered, evaporated and condensed milk decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Powdered, Evaporated And Condensed Milk

Exports from Iraq

In 2022, shipments abroad of powdered, evaporated and condensed milk decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, powdered, evaporated and condensed milk exports fell to $X in 2022. In general, exports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for powdered, evaporated and condensed milk exports from Iraq, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Turkey was relatively modest.

In value terms, Turkey ($X) also remains the key foreign market for powdered, evaporated and condensed milk exports from Iraq.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey stood at X%.

Export Prices by Country

In 2022, the average export price for powdered, evaporated and condensed milk amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price, however, continues to indicate a resilient expansion. The growth pace was the most rapid in 2018 when the average export price increased by X%. 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.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to X% per year.

Imports of Powdered, Evaporated And Condensed Milk

Imports into Iraq

In 2022, after two years of growth, there was decline in purchases abroad of powdered, evaporated and condensed milk, when their volume decreased by X% to X tons. In general, imports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then fell modestly in the following year.

In value terms, powdered, evaporated and condensed milk imports reduced to $X in 2022. Over the period under review, total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2018 indices. The growth pace was the most rapid in 2018 when imports increased by X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), Oman (X tons) and Kuwait (X tons) were the main suppliers of powdered, evaporated and condensed milk imports to Iraq, together comprising X% of total imports. Iran, Vietnam, Saudi Arabia and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest powdered, evaporated and condensed milk suppliers to Iraq were the United Arab Emirates ($X), Oman ($X) and Vietnam ($X), together accounting for X% of total imports. Iran, Saudi Arabia, Kuwait and France lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Saudi Arabia, with a CAGR of X%, 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

In 2022, the average import price for powdered, evaporated and condensed milk amounted to $X per ton, shrinking by X% against the previous year. In general, the import price saw a noticeable decrease. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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