Morocco: Honey Market 2024

Honey Market Size in Morocco

In 2022, after six years of growth, there was significant decline in the Moroccan honey market, when its value decreased by -8.7% to $X. In general, consumption, however, enjoyed a strong increase. Honey consumption peaked at $X in 2021, and then declined in the following year.

Honey Production in Morocco

In value terms, honey production dropped markedly to $X in 2022 estimated in export price. Over the period under review, production posted a tangible increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 1,599%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Honey Exports

Exports from Morocco

Honey exports from Morocco reduced remarkably to X tons in 2022, with a decrease of -21.7% against the previous year's figure. Over the period under review, exports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2015 when exports increased by 1,757%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, honey exports surged to $X in 2022. Overall, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 190%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for honey exports from Morocco, accounting for a 54% share of total exports. Moreover, honey exports to Spain exceeded the volume sent to the second major destination, France (X tons), sixfold. The United Arab Emirates (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain stood at +43.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+54.4% per year) and the United Arab Emirates (+39.3% per year).

In value terms, Spain ($X), France ($X) and the United Arab Emirates ($X) were the largest markets for honey exported from Morocco worldwide, with a combined 55% share of total exports.

France, with a CAGR of +51.4%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average honey export price stood at $X per ton in 2022, increasing by 93% against the previous year. Over the period under review, the export price, however, recorded a abrupt contraction. The growth pace was the most rapid in 2017 when the average export price increased by 490% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Spain ($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 Japan (+81.9%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Morocco

Honey imports into Morocco fell rapidly to X tons in 2022, waning by -17.6% against the previous year. Overall, imports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 71% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, honey imports dropped remarkably to $X in 2022. In general, imports, however, showed a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 81%. Imports peaked at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

China (X tons), India (X tons) and Spain (X tons) were the main suppliers of honey imports to Morocco, together accounting for 83% of total imports. Egypt and Argentina lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Egypt (with a CAGR of +31.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Spain ($X) and India ($X) appeared to be the largest honey suppliers to Morocco, with a combined 75% share of total imports. Egypt and Argentina lagged somewhat behind, together comprising a further 22%.

Egypt, with a CAGR of +26.9%, saw 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, reducing by -4% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, honey import price increased by +17.1% against 2015 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 24%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then declined slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :