Greece: Ghee Market Overview 2021

Ghee Market Size in Greece

The Greek ghee market dropped rapidly to $X in 2019, which is down 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). In general, consumption saw a deep contraction. The pace of growth was the most pronounced in 2017 when the market value increased by X% year-to-year. Ghee consumption peaked at $X in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.

Ghee Exports

Exports from Greece

In 2019, the amount of ghee exported from Greece skyrocketed to X tonnes, with an increase of X% compared with 2018. Overall, exports recorded a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of X% year-to-year. Exports peaked in 2019 and are expected to retain growth in the immediate term.

In value terms, ghee exports skyrocketed to $X in 2019. Over the period under review, exports showed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, exports reached the maximum in 2019 and are likely to continue growth in the immediate term.

Exports by Country

Cyprus (X tonnes) was the main destination for ghee exports from Greece, accounting for a X% share of total exports. Moreover, ghee exports to Cyprus exceeded the volume sent to the second major destination, Albania (X tonnes), fourfold. The third position in this ranking was occupied by Romania (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Cyprus stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+X% per year) and Romania (+X% per year).

In value terms, Cyprus ($X) remains the key foreign market for ghee exports from Greece, comprising X% of total exports. The second position in the ranking was occupied by Albania ($X), with a X% share of total exports. It was followed by Romania, with a X% share.

From 2007 to 2019, the average annual growth rate of value to Cyprus amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+X% per year) and Romania (+X% per year).

Export Prices by Country

The average ghee export price stood at $X per tonne in 2019, surging by X% against the previous year. In general, export price indicated a moderate expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, ghee export price increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% year-to-year. Over the period under review, average export prices reached the peak figure in 2019 and is expected to retain growth in the near future.

Average prices varied somewhat for the major export markets. In 2019, the highest prices were recorded for prices to Bulgaria ($X per tonne) and Cyprus ($X per tonne), while the average price for exports to Romania ($X per tonne) and Albania ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria, while the prices for the other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into Greece

For the fourth consecutive year, Greece recorded decline in purchases abroad of ghee, which decreased by -X% to X tonnes in 2019. Over the period under review, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by X% year-to-year. Over the period under review, imports attained the maximum at X tonnes in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

In value terms, ghee imports fell remarkably to $X in 2019. Overall, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2007; however, from 2008 to 2019, imports stood at a somewhat lower figure.

Imports by Country

France (X tonnes), the Netherlands (X tonnes) and Belgium (X tonnes) were the main suppliers of ghee imports to Greece, with a combined X% share of total imports. These countries were followed by Sweden, Germany, Spain and Italy, which together accounted for a further X 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden, while imports for the other leaders experienced a decline.

In value terms, France ($X), Belgium ($X) and the Netherlands ($X) constituted the largest ghee suppliers to Greece, with a combined X% share of total imports. These countries were followed by Sweden, Germany, Spain and Italy, which together accounted for a further X recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average ghee import price stood at $X per tonne in 2019, with a decrease of -X% against the previous year. Over the period under review, import price indicated a modest expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per tonne in 2018, and then declined markedly in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was Belgium ($X per tonne), while the price for Germany ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Italy, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for ghee in the world?

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The country with the largest volume of ghee consumption was India (3.7M tonnes), accounting for 73% of total volume. Moreover, ghee consumption in India exceeded the figures recorded by the second-largest consumer, Pakistan (850K tonnes), fourfold.

What are the largest producers of ghee in the world?

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The country with the largest volume of ghee production was India (3.7M tonnes), accounting for 73% of total volume. Moreover, ghee production in India exceeded the figures recorded by the second-largest producer, Pakistan (850K tonnes), fourfold.

What are the leading suppliers of ghee to Greece?

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In value terms, the largest ghee suppliers to Greece were France ($2.6M), Belgium ($1.6M) and the Netherlands ($1.5M), together comprising 78% of total imports. Sweden, Germany, Spain and Italy lagged somewhat behind, together accounting for a further 20%.

What are the leading importers of ghee from Greece?

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In value terms, Cyprus ($424K) remains the key foreign market for ghee exports from Greece, comprising 73% of total exports. The second position in the ranking was occupied by Albania ($84K), with a 15% share of total exports. It was followed by Romania, with a 5.7% share.

What is the average export price for ghee in Greece?

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The average ghee export price stood at $7,358 per tonne in 2019, increasing by 2.5% against the previous year.

What is the average import price for ghee in Greece?

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The average ghee import price stood at $5,963 per tonne in 2019, falling by -19.1% against the previous year.