Oman: Butter And Ghee Market 2024

Butter And Ghee Market Size in Oman

After three years of growth, the Omani butter and ghee market decreased by X% to $X in 2022. Overall, consumption, however, posted a strong expansion. Butter and ghee consumption peaked at $X in 2021, and then reduced in the following year.

Butter And Ghee Production in Oman

In value terms, butter and ghee production surged to $X in 2022 estimated in export price. Over the period under review, production posted a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Butter And Ghee Exports

Exports from Oman

In 2022, approx. X tons of butter and ghee were exported from Oman; with an increase of X% against 2021 figures. Over the period under review, exports, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter and ghee exports soared to $X in 2022. In general, exports, however, continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons) was the main destination for butter and ghee exports from Oman, with a X% share of total exports. Moreover, butter and ghee exports to Qatar exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Kuwait (X% per year).

In value terms, Qatar ($X) emerged as the key foreign market for butter and ghee exports from Oman, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Export Prices by Country

The average butter and ghee export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price saw a abrupt curtailment. The growth pace was the most rapid in 2019 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Qatar ($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 Egypt (X%), while the prices for the other major destinations experienced a decline.

Butter And Ghee Imports

Imports into Oman

In 2022, purchases abroad of butter and ghee decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, imports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, butter and ghee imports declined to $X in 2022. Over the period under review, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and India (X tons) were the main suppliers of butter and ghee imports to Oman, with a combined X% share of total imports.

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

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and India ($X) were the largest butter and ghee suppliers to Oman, together comprising X% of total imports.

Saudi Arabia, with a CAGR of X%, 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

In 2022, the average butter and ghee import price amounted to $X per ton, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 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 India ($X per ton), while the price for Denmark ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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