Jordan: Vegetable Oils Market 2024

Vegetable Oils Market Size in Jordan

The Jordanian vegetable oils market shrank to $X in 2022, waning by X% against the previous year. Overall, consumption recorded a slight slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vegetable Oils Production in Jordan

In value terms, vegetable oils production expanded rapidly to $X in 2022 estimated in export price. In general, production recorded a abrupt curtailment. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vegetable Oils Exports

Exports from Jordan

In 2022, overseas shipments of vegetable fats and oils decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports recorded a significant curtailment. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, vegetable oils exports dropped remarkably to $X in 2022. Over the period under review, exports continue to indicate a sharp reduction. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Free Zones (X tons), Yemen (X tons) and Palestine (X tons) were the main destinations of vegetable oils exports from Jordan, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Yemen (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, Free Zones ($X), Yemen ($X) and Palestine ($X) were the largest markets for vegetable oils exported from Jordan worldwide, with a combined X% share of total exports.

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

Export Prices by Country

In 2022, the average vegetable oils export price amounted to $X per ton, increasing by X% against the previous year. In general, the export price saw buoyant growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Palestine ($X per ton) and Yemen ($X per ton), while the average price for exports to the United States ($X per ton) and Free Zones ($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 Palestine (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Oils Imports

Imports into Jordan

After two years of growth, supplies from abroad of vegetable fats and oils decreased by X% to X tons in 2022. In general, imports recorded a perceptible reduction. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then fell markedly in the following year.

In value terms, vegetable oils imports shrank rapidly to $X in 2022. Over the period under review, total imports indicated a modest increase 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 increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest vegetable oils supplier to Jordan, with a X% share of total imports. Moreover, vegetable oils imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and the United Arab Emirates (X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of vegetable fats and oils to Jordan, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the average vegetable oils import price amounted to $X per ton, growing by X% against the previous year. In general, import price indicated noticeable growth from 2012 to 2022: its price 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, vegetable oils import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United Arab Emirates ($X per ton) and Indonesia ($X per ton), while the price for Saudi Arabia ($X per ton) and Palestine ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform