Saudi Arabia: Butter And Ghee Market 2024

Butter And Ghee Market Size in Saudi Arabia

The Saudi butter and ghee market rose modestly to $X in 2022, increasing by X% 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, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Butter And Ghee Exports

Exports from Saudi Arabia

In 2022, after seven years of growth, there was significant decline in overseas shipments of butter and ghee, when their volume decreased by X% to X tons. In general, exports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then fell dramatically in the following year.

In value terms, butter and ghee exports shrank markedly to $X in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then dropped markedly in the following year.

Exports by Country

The United Arab Emirates (X tons), Bahrain (X tons) and Kuwait (X tons) were the main destinations of butter and ghee exports from Saudi Arabia, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bahrain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Bahrain ($X) and Kuwait ($X) appeared to be the largest markets for butter and ghee exported from Saudi Arabia worldwide, together comprising X% of total exports.

In terms of the main countries of destination, Bahrain, with a CAGR of X%, recorded 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 butter and ghee export price stood at $X per ton in 2022, surging 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 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Jordan ($X per ton) and Bahrain ($X per ton), while the average price for exports to Yemen ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (X%), while the prices for the other major destinations experienced mixed trend patterns.

Butter And Ghee Imports

Imports into Saudi Arabia

In 2022, approx. X tons of butter and ghee were imported into Saudi Arabia; with a decrease of X% on the previous year's figure. In general, imports showed a mild descent. The pace of growth appeared the most rapid in 2020 with an increase of X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, butter and ghee imports fell modestly to $X in 2022. Overall, imports, however, showed a slight increase. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest butter and ghee supplier to Saudi Arabia, accounting for a X% share of total imports. Moreover, butter and ghee imports from New Zealand exceeded the figures recorded by the second-largest supplier, Denmark (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and the United States (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter and ghee to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by Denmark ($X), with a X% share of total imports. It was followed by France, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and France (X% per year).

Import Prices by Country

The average butter and ghee import price stood at $X per ton in 2022, with a decrease of X% against 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 hit record highs 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 Denmark ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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