Iraq: Market for Rusks, Toasted Bread and Similar Toasted Products 2024

Market Size for Rusks, Toasted Bread and Similar Toasted Products in Iraq

In 2021, after five years of growth, there was significant decline in the Iraqi rusks and toasted bread market, when its value decreased by -15.5% to $X. Over the period under review, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +56.2% against 2015 indices. As a result, consumption reached the peak level of $X, and then declined significantly in the following year.

Production of Rusks, Toasted Bread and Similar Toasted Products in Iraq

In value terms, rusks and toasted bread production reduced sharply to $X in 2021 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +65.7% against 2016 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 44% against the previous year. As a result, production reached the peak level of $X, and then contracted sharply in the following year.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports from Iraq

Rusks and toasted bread exports from Iraq surged to X tons in 2021, picking up by 192% against the previous year's figure. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 597%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, rusks and toasted bread exports surged to $X in 2021. In general, exports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2019 when exports increased by 532%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for rusks and toasted bread exports from Iraq, accounting for a 85% share of total exports. Moreover, rusks and toasted bread exports to Australia exceeded the volume sent to the second major destination, Turkey (X kg), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia was relatively modest.

In value terms, the largest markets for rusks and toasted bread exported from Iraq were Australia ($X) and Turkey ($X).

Among the main countries of destination, Australia, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average rusks and toasted bread export price stood at $X per ton in 2021, falling by -58.5% against the previous year. Over the period under review, the export price saw a drastic downturn. The growth pace was the most rapid in 2017 when the average export price increased by 31%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Australia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (-2.4%).

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports into Iraq

In 2021, rusks and toasted bread imports into Iraq declined markedly to X tons, with a decrease of -17.4% compared with the year before. Over the period under review, imports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2015 when imports increased by 200%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, rusks and toasted bread imports reduced to $X in 2021. In general, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 167% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest rusks and toasted bread supplier to Iraq, accounting for a 74% share of total imports. Moreover, rusks and toasted bread imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sixfold. The United States (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume from Saudi Arabia stood at +39.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+19.5% per year) and the United States (+40.7% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of rusks, toasted bread and similar toasted products to Iraq, comprising 70% of total imports. The second position in the ranking was held by Turkey ($X), with a 14% share of total imports. It was followed by the United States, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia amounted to +47.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+17.8% per year) and the United States (+41.0% per year).

Import Prices by Country

In 2021, the average rusks and toasted bread import price amounted to $X per ton, surging by 11% against the previous year. In general, import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, rusks and toasted bread import price increased by +69.5% against 2016 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 26% against the previous year. The import price peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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