MENA: Ghee Market 2024

Ghee Market Size in MENA

In 2022, the MENA's ghee market decreased by -2% to $X, falling for the fourth consecutive year after two years of growth. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Ghee Production in MENA

In value terms, ghee production soared to $X in 2022 estimated in export price. In general, production posted a resilient expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

The countries with the highest volumes of production in 2022 were Saudi Arabia (X tons), Yemen (X tons) and Syrian Arab Republic (X tons), with a combined 84% share of total production. Israel, Oman and Turkey lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +5.9%), while production for the other leaders experienced more modest paces of growth.

Ghee Exports

Exports in MENA

In 2022, ghee exports in MENA surged to X tons, with an increase of 46% against the previous year. Over the period under review, exports continue to indicate a slight increase. The pace of growth appeared the most rapid in 2020 with an increase of 112% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, ghee exports surged to $X in 2022. Overall, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 155% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, Egypt (X tons), distantly followed by the United Arab Emirates (X tons), Israel (X tons), Syrian Arab Republic (X tons), Turkey (X tons) and Saudi Arabia (X tons) were the largest exporters of ghee, together creating 97% of total exports. Palestine (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +51.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 61% share of total exports. Egypt, Turkey, Syrian Arab Republic and Palestine lagged somewhat behind, together comprising a further 38%.

In terms of the main exporting countries, Turkey, with a CAGR of +54.9%, 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

In 2022, the export price in MENA amounted to $X per ton, surging by 11% against the previous year. Export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee export price increased by +29.1% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the export price increased by 52% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.3%), while the other leaders experienced more modest paces of growth.

Ghee Imports

Imports in MENA

For the fourth year in a row, MENA recorded decline in overseas purchases of ghee, which decreased by -5.7% to X tons in 2022. Over the period under review, imports showed a mild reduction. The growth pace was the most rapid in 2018 when imports increased by 19% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, ghee imports reached $X in 2022. Total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -24.9% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 30% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) and Egypt (X tons) represented the largest importers of ghee in MENA, together reaching near 41% of total imports. It was distantly followed by Libya (X tons), Algeria (X tons), Kuwait (X tons), Qatar (X tons) and Iraq (X tons), together generating a 39% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Qatar (with a CAGR of +38.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Egypt ($X) and Libya ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 54% share of total imports. Qatar, Algeria, Kuwait and Iraq lagged somewhat behind, together accounting for a further 26%.

Among the main importing countries, Qatar, with a CAGR of +40.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, increasing by 11% against the previous year. Import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee import price increased by +19.3% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 48%. Over the period under review, import prices attained the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform