Iraq: Honey Market 2024

Honey Market Size in Iraq

In 2022, the Iraqi honey market was finally on the rise to reach $X after three years of decline. In general, consumption, however, recorded a noticeable contraction. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Honey Production in Iraq

In value terms, honey production shrank to $X in 2022 estimated in export price. In general, production recorded a perceptible decrease. The growth pace was the most rapid in 2017 when the production volume increased by 18%. Honey production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Honey Exports

Exports from Iraq

In 2022, the amount of honey exported from Iraq rose rapidly to X kg, surging by 15% on the year before. Over the period under review, exports, however, faced a abrupt decline. The most prominent rate of growth was recorded in 2020 when exports increased by 56% against the previous year. Over the period under review, the exports attained the maximum at X kg in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, honey exports shrank notably to $X in 2022. Overall, exports, however, saw a deep reduction. The growth pace was the most rapid in 2021 when exports increased by 45% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Iceland (X kg) was the main destination for honey exports from Iraq, accounting for a 65% share of total exports. Moreover, honey exports to Iceland exceeded the volume sent to the second major destination, Ireland (X kg), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Iceland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (0.0% per year) and the United Arab Emirates (-35.1% per year).

In value terms, Ireland ($X), Iceland ($X) and the United Arab Emirates ($X) appeared to be the largest markets for honey exported from Iraq worldwide, together accounting for 67% of total exports.

Iceland, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average honey export price stood at $X per ton in 2022, shrinking by -27.2% against the previous year. Overall, the export price recorded a noticeable curtailment. The growth pace was the most rapid in 2021 an increase of 82% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to Iceland ($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 (+4.0%).

Honey Imports

Imports into Iraq

In 2022, supplies from abroad of honey was finally on the rise to reach X tons after three years of decline. Overall, imports, however, showed a perceptible curtailment. The pace of growth was the most pronounced in 2015 with an increase of 64% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, honey imports rose markedly to $X in 2022. Over the period under review, imports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 66%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Iran (X tons) constituted the largest honey supplier to Iraq, with a 46% share of total imports. Moreover, honey imports from Iran exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. Spain (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Iran amounted to +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+48.5% per year) and Spain (-8.7% per year).

In value terms, Iran ($X) constituted the largest supplier of honey to Iraq, comprising 61% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Spain, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Iran amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+53.6% per year) and Spain (-10.9% per year).

Import Prices by Country

In 2022, the average honey import price amounted to $X per ton, with an increase of 13% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 34%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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