Middle East: Butter And Ghee Market 2024

Butter And Ghee Market Size in the Middle East

The Middle Eastern butter and ghee market surged to $X in 2023, picking up by X% against the previous year. In general, consumption, however, continues to indicate a perceptible slump. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Butter And Ghee Production in the Middle East

In value terms, butter and ghee production shrank modestly to $X in 2023 estimated in export price. Overall, production showed a pronounced setback. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Butter And Ghee Exports

Exports in the Middle East

In 2023, approx. X tons of butter and ghee were exported in the Middle East; declining by X% on 2022 figures. Overall, exports, however, enjoyed a modest expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, butter and ghee exports declined sharply to $X in 2023. In general, exports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2022, and then reduced notably in the following year.

Exports by Country

Saudi Arabia represented the key exporter of butter and ghee in the Middle East, with the volume of exports reaching X tons, which was approx. X% of total exports in 2023. The United Arab Emirates (X tons) took the second position in the ranking, followed by Turkey (X tons) and Syrian Arab Republic (X tons). All these countries together held approx. X% share of total exports. The following exporters - Iran (X tons), Bahrain (X tons) and Kuwait (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to butter and ghee exports from Saudi Arabia stood at X%. At the same time, Syrian Arab Republic (X%), Bahrain (X%), Turkey (X%), Kuwait (X%) and Iran (X%) displayed positive paces of growth. Moreover, Syrian Arab Republic emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Saudi Arabia, Turkey, Syrian Arab Republic, Bahrain and Iran increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) emerged as the largest butter and ghee supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Saudi Arabia, butter and ghee exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, remaining constant against the previous year. Overall, the export price, however, saw a strong expansion. The pace of growth appeared the most rapid in 2020 an increase of X%. The level of export peaked at $X per ton in 2022, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Butter And Ghee Imports

Imports in the Middle East

In 2023, overseas purchases of butter and ghee were finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. Overall, imports, however, showed a perceptible curtailment. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, butter and ghee imports surged to $X in 2023. In general, imports, however, continue to indicate a mild reduction. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) were the major importers of butter and ghee in 2023, amounting to near X% and X% of total imports, respectively. It was distantly followed by Bahrain (X tons), Israel (X tons), Turkey (X tons), Kuwait (X tons) and Qatar (X tons), together comprising a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Israel (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest butter and ghee importing markets in the Middle East were the United Arab Emirates ($X), Saudi Arabia ($X) and Bahrain ($X), with a combined X% share of total imports. Israel, Qatar, Kuwait and Turkey lagged somewhat behind, together comprising a further X%.

Israel, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, shrinking by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then dropped in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Qatar ($X per ton) and Israel ($X per ton), while Saudi Arabia ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform