Libya: Honey Market 2024

Honey Market Size in Libya

The Libyan honey market dropped to $X in 2022, reducing by -7.7% against the previous year. In general, consumption showed a noticeable descent. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Honey Production in Libya

In value terms, honey production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when the production volume increased by 8.5%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Honey Exports

Exports from Libya

In 2022, exports of honey from Libya soared to X tons, jumping by 38% on the previous year. Over the period under review, exports, however, recorded a abrupt descent. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, honey exports skyrocketed to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons), Kuwait (X tons) and Canada (X tons) were the main destinations of honey exports from Libya, with a combined 100% 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 Canada (with a CAGR of +22,400.0%), while the other leaders experienced mixed trend patterns.

In value terms, Kuwait ($X) remains the key foreign market for honey exports from Libya, comprising 80% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Kuwait totaled -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+7.9% per year) and Canada (+16,643.6% per year).

Export Prices by Country

The average honey export price stood at $X per ton in 2022, falling by -12.2% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, honey export price increased by +38.1% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 57%. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Saudi Arabia ($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 Bahrain (+23.3%), while the prices for the other major destinations experienced mixed trend patterns.

Honey Imports

Imports into Libya

Honey imports into Libya declined dramatically to X tons in 2022, which is down by -21.2% on the previous year's figure. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 266% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, honey imports shrank to $X in 2022. Over the period under review, imports showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 331%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of honey to Libya, with a 50% share of total imports. Moreover, honey imports from India exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. The third position in this ranking was taken by Argentina (X tons), with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +30.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+77.6% per year) and Argentina (+4.0% per year).

In value terms, the largest honey suppliers to Libya were India ($X), Argentina ($X) and the United Arab Emirates ($X), with a combined 61% share of total imports.

The United Arab Emirates, with a CAGR of +79.0%, recorded 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

The average honey import price stood at $X per ton in 2022, increasing by 11% against the previous year. In general, the import price, however, showed a noticeable slump. The pace of growth was the most pronounced in 2018 an increase of 18%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :