CIS: Ghee Market 2024

Ghee Market Size in CIS

In 2022, the CIS ghee market decreased by X% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption showed a pronounced shrinkage. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Ghee Production in CIS

In value terms, ghee production rose modestly to $X in 2022 estimated in export price. The total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The country with the largest volume of ghee production was Belarus (X tons), comprising approx. X% of total volume. Moreover, ghee production in Belarus exceeded the figures recorded by the second-largest producer, Kyrgyzstan (X tons), fivefold.

In Belarus, ghee production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kyrgyzstan (X% per year) and Uzbekistan (X% per year).

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Ghee Exports

Exports in CIS

In 2022, shipments abroad of ghee increased by X% to X tons, rising for the fourth year in a row after two years of decline. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, ghee exports soared to $X in 2022. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

In 2022, Belarus (X tons) was the key exporter of ghee, comprising X% of total exports. Russia (X tons) ranks second in terms of the total exports with a X% share, followed by Armenia (X%). Kazakhstan (X tons) and Kyrgyzstan (X tons) took a little share of total exports.

Exports from Belarus increased at an average annual rate of X% from 2012 to 2022. At the same time, Armenia (X%), Kyrgyzstan (X%), Russia (X%) and Kazakhstan (X%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Belarus, Armenia and Kyrgyzstan increased by X, X and X percentage points, respectively.

In value terms, Belarus ($X) emerged as the largest ghee supplier in the CIS, comprising X% of total exports. The second position in the ranking was held by Russia ($X), with a X% share of total exports. It was followed by Armenia, with a X% share.

In Belarus, ghee exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Russia (X% per year) and Armenia (X% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, rising by X% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Armenia ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

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

Ghee Imports

Imports in CIS

In 2022, purchases abroad of ghee decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, ghee imports rose sharply to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons) represented the largest importer of ghee, constituting X% of total imports. Azerbaijan (X tons) held the second position in the ranking, distantly followed by Kazakhstan (X tons) and Armenia (X tons). All these countries together took approx. X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to ghee imports into Russia stood at X%. At the same time, Armenia (X%) and Kazakhstan (X%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. By contrast, Azerbaijan (X%) illustrated a downward trend over the same period. While the share of Russia (X p.p.), Armenia (X p.p.) and Kazakhstan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Azerbaijan (X p.p.) displayed negative dynamics.

In value terms, Russia ($X) constitutes the largest market for imported ghee in the CIS, comprising X% of total imports. The second position in the ranking was held by Azerbaijan ($X), with an X% share of total imports. It was followed by Armenia, with a X% share.

In Russia, ghee imports shrank by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Azerbaijan (X% per year) and Armenia (X% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Azerbaijan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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