MENA: Vegetable Oils Market 2024

Vegetable Oils Market Size in MENA

The MENA's vegetable oils market was estimated at $X in 2022, increasing by X% against the previous year. In general, consumption continues to indicate a perceptible downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vegetable Oils Production in MENA

In value terms, vegetable oils production rose modestly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Vegetable Oils Exports

Exports in MENA

In 2022, overseas shipments of vegetable fats and oils increased by X% to X tons, rising for the second year in a row after four years of decline. Over the period under review, exports, however, continue to indicate a deep reduction. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, vegetable oils exports skyrocketed to $X in 2022. In general, exports, however, showed a deep setback. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the largest exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by Tunisia (X tons), Saudi Arabia (X tons), Turkey (X tons), Oman (X tons) and Egypt (X tons), together generating a X% share of total exports. Bahrain (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Bahrain (X%), Egypt (X%), Oman (X%) and Tunisia (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) and Turkey (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Tunisia (X p.p.), Oman (X p.p.), Egypt (X p.p.), Saudi Arabia (X p.p.) and Bahrain (X p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest vegetable oils supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Tunisia ($X), with a X% share of total exports. It was followed by Turkey, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: Tunisia (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, rising by X% against the previous year. Export price indicated slight 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 export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

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 Egypt ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Vegetable Oils Imports

Imports in MENA

In 2022, approx. X tons of vegetable fats and oils were imported in MENA; shrinking by X% against 2021. Over the period under review, imports recorded a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable oils imports totaled $X in 2022. In general, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Algeria (X tons), distantly followed by Turkey (X tons), Iran (X tons), Morocco (X tons), Egypt (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the largest importers of vegetable fats and oils, together generating X% of total imports. Yemen (X tons), Syrian Arab Republic (X tons), Iraq (X tons), Israel (X tons), Bahrain (X tons) and Jordan (X tons) took a minor share of total imports.

Imports into Algeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Bahrain (X%), Yemen (X%), Iran (X%) and Egypt (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. Turkey and Morocco experienced a relatively flat trend pattern. By contrast, Jordan (X%), Saudi Arabia (X%), the United Arab Emirates (X%), Syrian Arab Republic (X%), Israel (X%) and Iraq (X%) illustrated a downward trend over the same period. While the share of Algeria (X p.p.), Iran (X p.p.), Turkey (X p.p.), Egypt (X p.p.), Morocco (X p.p.), Saudi Arabia (X p.p.), Yemen (X p.p.), Bahrain (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Iraq (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vegetable oils importing markets in MENA were Algeria ($X), Turkey ($X) and Egypt ($X), with a combined X% share of total imports. Morocco, Iran, Saudi Arabia, the United Arab Emirates, Israel, Bahrain, Jordan, Yemen, Iraq and Syrian Arab Republic lagged somewhat behind, together accounting for a further X%.

Bahrain, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 Israel (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform