Iran: Vegetable Oils Market 2024

Vegetable Oils Market Size in Iran

The Iranian vegetable oils market shrank modestly to $X in 2023, dropping by X% against the previous year. In general, consumption, however, continues to indicate a abrupt curtailment. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Vegetable Oils Production in Iran

In value terms, vegetable oils production reduced to $X in 2023 estimated in export price. Over the period under review, production, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2022 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Vegetable Oils Exports

Exports from Iran

In 2023, shipments abroad of vegetable fats and oils was finally on the rise to reach X tons after two years of decline. Overall, exports, however, continue to indicate a dramatic descent. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, vegetable oils exports fell to $X in 2023. Over the period under review, exports, however, continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2022 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Azerbaijan (X tons) was the main destination for vegetable oils exports from Iran, accounting for a approx. X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of volume to Azerbaijan was relatively modest.

In value terms, Azerbaijan ($X) emerged as the key foreign market for vegetable fats and oils exports from Iran.

From 2012 to 2023, the average annual rate of growth in terms of value to Azerbaijan was relatively modest.

Export Prices by Country

In 2023, the average vegetable oils export price amounted to $X per ton, reducing by X% against the previous year. Overall, the export price recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2022 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted markedly in the following year.

As there is only one major export destination, the average price level is determined by prices for Azerbaijan.

From 2012 to 2023, the rate of growth in terms of prices for Kazakhstan amounted to X% per year.

Vegetable Oils Imports

Imports into Iran

Vegetable oils imports into Iran rose sharply to X tons in 2023, growing by X% compared with the previous year's figure. Over the period under review, total imports indicated perceptible growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, vegetable oils imports contracted to $X in 2023. Overall, total imports indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2022, and then reduced in the following year.

Imports by Country

In 2023, Malaysia (X tons) was the main vegetable oils supplier to Iran, with a X% share of total imports. Moreover, vegetable oils imports from Malaysia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume from Malaysia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Turkey (X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of vegetable fats and oils to Iran, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value from Malaysia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Turkey (X% per year).

Import Prices by Country

The average vegetable oils import price stood at $X per ton in 2023, reducing by X% against the previous year. Overall, import price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, vegetable oils import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2022, and then shrank in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Malaysia ($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 prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform