Jordan: Fats Preparation Machinery Market 2024

Fats Preparation Machinery Market Size in Jordan

In 2022, the Jordanian fats preparation machinery market decreased by -10.8% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, saw prominent growth. Fats preparation machinery consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Fats Preparation Machinery Production in Jordan

In value terms, fats preparation machinery production totaled $X in 2022 estimated in export price. Over the period under review, production showed a resilient increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 3,217%. Fats preparation machinery production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Fats Preparation Machinery Exports

Exports from Jordan

In 2022, shipments abroad of machinery for the extraction or preparation of animal or fixed vegetable fats or oils was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 1,341% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, fats preparation machinery exports skyrocketed to $X in 2022. Overall, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2016 when exports increased by 573% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Free Zones (X units) was the main destination for fats preparation machinery exports from Jordan, with a 81% share of total exports. Moreover, fats preparation machinery exports to Free Zones exceeded the volume sent to the second major destination, Palestine (X units), sevenfold. Syrian Arab Republic (X units) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones amounted to +59.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Palestine (+32.0% per year) and Syrian Arab Republic (+17.5% per year).

In value terms, Free Zones ($X) remains the key foreign market for machinery for the extraction or preparation of animal or fixed vegetable fats or oils exports from Jordan, comprising 47% of total exports. The second position in the ranking was taken by Syrian Arab Republic ($X), with a 9% share of total exports. It was followed by Palestine, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value to Free Zones amounted to +45.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Syrian Arab Republic (+32.9% per year) and Palestine (+8.5% per year).

Export Prices by Country

The average fats preparation machinery export price stood at $X per unit in 2022, dropping by -11.3% against the previous year. In general, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2018 an increase of 9,593%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Syrian Arab Republic ($X per unit), while the average price for exports to Free Zones ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Syrian Arab Republic (+13.1%), while the prices for the other major destinations experienced a decline.

Fats Preparation Machinery Imports

Imports into Jordan

In 2022, purchases abroad of machinery for the extraction or preparation of animal or fixed vegetable fats or oils increased by 91% to X units, rising for the second year in a row after three years of decline. Overall, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 363% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, fats preparation machinery imports amounted to $X in 2022. Over the period under review, imports enjoyed a notable expansion. The pace of growth was the most pronounced in 2015 with an increase of 817%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey (X units), China (X units) and Italy (X units) were the main suppliers of fats preparation machinery imports to Jordan, together accounting for 98% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +43.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constituted the largest supplier of machinery for the extraction or preparation of animal or fixed vegetable fats or oils to Jordan, comprising 69% of total imports. The second position in the ranking was taken by China ($X), with a 16% share of total imports. It was followed by Italy, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to +52.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+60.6% per year) and Italy (+13.5% per year).

Import Prices by Country

In 2022, the average fats preparation machinery import price amounted to $X per unit, reducing by -43.5% against the previous year. In general, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 105% against the previous year. The import price peaked at $X per unit in 2021, and then declined remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform