MENA: Butter And Ghee Market 2024

Butter And Ghee Market Size in MENA

In 2022, after three years of decline, there was significant growth in the MENA's butter and ghee market, when its value increased by X% to $X. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Butter And Ghee Production in MENA

In value terms, butter and ghee production fell significantly to $X in 2022 estimated in export price. In general, production, however, posted a measured increase. The growth pace was the most rapid in 2015 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Butter And Ghee Exports

Exports in MENA

In 2022, overseas shipments of butter and ghee increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2015 with an increase of X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter and ghee exports soared to $X in 2022. Overall, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey represented the largest exporter of butter and ghee in MENA, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), the United Arab Emirates (X tons) and Iran (X tons), together committing a X% share of total exports. The following exporters - Egypt (X tons) and Syrian Arab Republic (X tons) - each reached a X% share of total exports.

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

In value terms, the largest butter and ghee supplying countries in MENA were Turkey ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), with a combined X% share of total exports.

Among the main exporting countries, Turkey, with a CAGR of X%, saw the highest growth rate of 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 export price in MENA stood at $X per ton in 2022, growing by X% against the previous year. Export price indicated strong 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, butter and ghee export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

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

Butter And Ghee Imports

Imports in MENA

In 2022, purchases abroad of butter and ghee was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, continue to indicate a perceptible contraction. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, butter and ghee imports skyrocketed to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the five major importers of butter and ghee, namely Saudi Arabia, the United Arab Emirates, Bahrain, Egypt and Morocco, represented more than two-thirds of total import. It was distantly followed by Qatar (X tons), constituting a X% share of total imports. The following importers - Kuwait (X tons), Oman (X tons), Algeria (X tons), Iraq (X tons), Iran (X tons), Libya (X tons) and Israel (X tons) - together made up X% of total imports.

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

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Egypt ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Bahrain, Morocco, Qatar, Kuwait, Oman, Iraq, Israel, Libya, Iran and Algeria lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Iraq, with a CAGR of X%, recorded the highest growth rate of 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, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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