Uzbekistan: Honey Market 2024

Honey Market Size in Uzbekistan

The Uzbek honey market declined slightly to $X in 2022, falling by -2.8% against the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +19.9% against 2017 indices. Honey consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Honey Production in Uzbekistan

In value terms, honey production contracted slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.6% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 55% against the previous year. Honey production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Honey Exports

Exports from Uzbekistan

In 2022, exports of honey from Uzbekistan surged to X tons, jumping by 421% compared with the previous year's figure. Overall, exports saw resilient growth. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, honey exports soared to $X in 2022. In general, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for honey exports from Uzbekistan, accounting for a 96% share of total exports. Moreover, honey exports to the United States exceeded the volume sent to the second major destination, South Korea (X tons), more than tenfold.

From 2017 to 2022, the average annual rate of growth in terms of volume to the United States totaled +33.1%.

In value terms, the United States ($X) emerged as the key foreign market for honey exports from Uzbekistan, comprising 96% of total exports. The second position in the ranking was taken by South Korea ($X), with a 3.2% share of total exports.

From 2017 to 2022, the average annual growth rate of value to the United States totaled +37.7%.

Export Prices by Country

In 2022, the average honey export price amounted to $X per ton, reducing by -39.1% against the previous year. In general, the export price, however, continues to indicate resilient growth. The pace of growth appeared the most rapid in 2021 an increase of 141%. As a result, the export price attained the peak level of $X per ton, and then dropped sharply in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to South Korea totaled $X per ton.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+32.0%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Uzbekistan

For the sixth year in a row, Uzbekistan recorded growth in overseas purchases of honey, which increased by 2.1% to X tons in 2022. Over the period under review, imports saw a significant increase. The pace of growth was the most pronounced in 2018 when imports increased by 13,037% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, honey imports shrank rapidly to $X in 2022. In general, imports enjoyed significant growth. The growth pace was the most rapid in 2018 with an increase of 14,823%. Imports peaked at $X in 2021, and then contracted notably in the following year.

Imports by Country

Russia (X tons), Kazakhstan (X tons) and the United Arab Emirates (X tons) were the main suppliers of honey imports to Uzbekistan, with a combined 99% share of total imports.

From 2017 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of +189.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Russia ($X) constituted the largest supplier of honey to Uzbekistan, comprising 75% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 21% share of total imports.

From 2017 to 2022, the average annual growth rate of value from Russia amounted to +117.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+165.1% per year) and the United Arab Emirates (-12.9% per year).

Import Prices by Country

In 2022, the average honey import price amounted to $X per ton, reducing by -41% against the previous year. Over the period under review, the import price, however, continues to indicate a measured expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 34%. As a result, import price attained the peak level of $X per ton, and then dropped rapidly in the following year.

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 the United Arab Emirates ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+105.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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