Spain: Ghee Market 2024

Ghee Market Size in Spain

The Spanish ghee market fell notably to $X in 2022, waning by -80.5% against the previous year. In general, consumption saw a sharp downturn. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Ghee Production in Spain

In value terms, ghee production declined slightly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 38%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Ghee Exports

Exports from Spain

In 2022, the amount of ghee exported from Spain soared to X tons, jumping by 15% compared with the previous year. In general, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 50% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, ghee exports soared to $X in 2022. Over the period under review, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 79% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Italy (X tons) was the main destination for ghee exports from Spain, with a 57% share of total exports. Moreover, ghee exports to Italy exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was held by Belgium (X tons), with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to Italy totaled +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+14.0% per year) and Belgium (+8.4% per year).

In value terms, Italy ($X) remains the key foreign market for ghee exports from Spain, comprising 58% of total exports. The second position in the ranking was held by France ($X), with a 28% share of total exports. It was followed by Belgium, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Italy amounted to +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+20.3% per year) and Belgium (+15.2% per year).

Export Prices by Country

In 2022, the average ghee export price amounted to $X per ton, increasing by 46% against the previous year. Overall, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee export price increased by +75.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 73%. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Morocco ($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 the Netherlands (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into Spain

In 2022, the amount of ghee imported into Spain was estimated at X tons, increasing by 6.7% compared with the previous year's figure. In general, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.9% against 2018 indices. The growth pace was the most rapid in 2013 when imports increased by 40%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, ghee imports skyrocketed to $X in 2022. Over the period under review, imports showed buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 69% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Belgium (X tons), the Netherlands (X tons) and France (X tons) were the main suppliers of ghee imports to Spain, together accounting for 95% of total imports. Ireland, Germany, Denmark and the UK lagged somewhat behind, together comprising a further 4.8%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +242.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), the Netherlands ($X) and France ($X) constituted the largest ghee suppliers to Spain, with a combined 95% share of total imports. Ireland, Germany, the UK and Denmark lagged somewhat behind, together comprising a further 4.6%.

In terms of the main suppliers, Ireland, with a CAGR of +321.1%, 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

The average ghee import price stood at $X per ton in 2022, rising by 38% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ghee import price increased by +41.2% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 62% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+22.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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