Jordan: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in Jordan

In 2022, the Jordanian margarine and shortening market increased by 43% to $X, rising for the second year in a row after two years of decline. In general, consumption recorded a strong increase. Margarine and shortening consumption peaked in 2022 and is expected to retain growth in years to come.

Margarine And Shortening Exports

Exports from Jordan

In 2022, exports of margarine and shortening from Jordan reduced markedly to X tons, waning by -40.1% compared with the previous year's figure. Over the period under review, exports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2015 with an increase of 178% against the previous year. The exports peaked at X tons in 2021, and then shrank markedly in the following year.

In value terms, margarine and shortening exports shrank to $X in 2022. In general, exports recorded a mild descent. The most prominent rate of growth was recorded in 2015 with an increase of 174% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Saudi Arabia (X tons), the United States (X tons) and Free Zones (X tons) were the main destinations of margarine and shortening exports from Jordan, with a combined 74% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +19.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for margarine and shortening exported from Jordan were Saudi Arabia ($X), the United States ($X) and Free Zones ($X), with a combined 74% share of total exports. Egypt, Iraq and the United Arab Emirates lagged somewhat behind, together accounting for a further 26%.

Among the main countries of destination, Egypt, with a CAGR of +23.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average margarine and shortening export price stood at $X per ton in 2022, with an increase of 45% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.9%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Iraq ($X per ton) and the United Arab Emirates ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Margarine And Shortening Imports

Imports into Jordan

In 2022, the amount of margarine and shortening imported into Jordan totaled X tons, picking up by 15% against 2021 figures. The total import volume increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 29%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, margarine and shortening imports soared to $X in 2022. Overall, imports showed a prominent expansion. The growth pace was the most rapid in 2021 when imports increased by 60% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Saudi Arabia (X tons), Indonesia (X tons) and Malaysia (X tons) were the main suppliers of margarine and shortening imports to Jordan, together comprising 53% of total imports. Egypt, Italy, Turkey, the United Arab Emirates, Tunisia, Oman, the Netherlands, Ukraine, Sweden and the United States lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +41.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Indonesia ($X) and Malaysia ($X) were the largest margarine and shortening suppliers to Jordan, together comprising 54% of total imports. Egypt, Turkey, Italy, Oman, the United Arab Emirates, Tunisia, the Netherlands, Ukraine, Sweden and the United States lagged somewhat behind, together comprising a further 41%.

Oman, with a CAGR of +48.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 margarine and shortening import price amounted to $X per ton, picking up by 23% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, margarine and shortening import price increased by +111.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 38%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Oman ($X per ton) and Indonesia ($X per ton), while the price for Tunisia ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform