Oman: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in Oman

The Omani market for condensed or evaporated milk (unsweetened) expanded significantly to $X in 2021, rising by 5.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a prominent increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Oman

In 2021, after two years of growth, there was significant decline in overseas shipments of condensed or evaporated milk (unsweetened), when their volume decreased by -42.9% to X tons. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 2,275% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then fell sharply in the following year.

In value terms, unsweetened condensed and evaporated milk exports dropped significantly to $X in 2021. In general, exports, however, saw a significant increase. The growth pace was the most rapid in 2017 when exports increased by 696%. The exports peaked at $X in 2020, and then contracted rapidly in the following year.

Exports by Country

Libya (X tons), Yemen (X tons) and Mauritania (X tons) were the main destinations of unsweetened condensed and evaporated milk exports from Oman, together comprising 47% of total exports.

From 2012 to 2021, the biggest increases were recorded for Mauritania (with a CAGR of +148.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for unsweetened condensed and evaporated milk exported from Oman were Yemen ($X), Libya ($X) and Mauritania ($X), with a combined 43% share of total exports.

In terms of the main countries of destination, Mauritania, with a CAGR of +150.4%, 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

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, growing by 3.2% against the previous year. In general, the export price, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2015 when the average export price increased by 297% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Oman

In 2021, overseas purchases of condensed or evaporated milk (unsweetened) decreased by -1.7% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, saw a strong expansion. The growth pace was the most rapid in 2014 with an increase of 124% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk imports expanded slightly to $X in 2021. Over the period under review, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 139%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

Imports by Country

The United Arab Emirates (X tons), Saudi Arabia (X tons) and the Netherlands (X tons) were the main suppliers of unsweetened condensed and evaporated milk imports to Oman, together comprising 89% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +27.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), the Netherlands ($X) and Saudi Arabia ($X) were the largest unsweetened condensed and evaporated milk suppliers to Oman, with a combined 85% share of total imports.

The Netherlands, with a CAGR of +29.8%, 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

The average import price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, rising by 6.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2019 an increase of 9.5% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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