Iraq: Beef Market 2023

Beef Market Size in Iraq

After two years of decline, the Iraqi beef market increased by 22% to $X in 2021. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Beef consumption peaked in 2021 and is expected to retain growth in the near future.

Beef Production in Iraq

In value terms, beef production soared to $X in 2021 estimated in export price. In general, production, however, faced a deep downturn. The most prominent rate of growth was recorded in 2019 when the production volume increased by 34% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

In 2021, the average yield of beef (cattle meat) in Iraq was estimated at X kg per head, remaining relatively unchanged against the previous year. In general, the yield saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 2.1% against the previous year. Over the period under review, the average beef yield attained the maximum level at X kg per head in 2015; however, from 2016 to 2021, the yield failed to regain momentum.

In 2021, number of animals slaughtered for beef production in Iraq stood at X heads, growing by 2.3% compared with the previous year's figure. Overall, the number of producing animals, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2016 when the number of producing animals increased by 9%. The number of animals slaughtered for beef production peaked at X heads in 2012; however, from 2013 to 2021, producing animals remained at a lower figure.

Beef Exports

Exports from Iraq

In 2019, shipments abroad of beef (cattle meat) decreased by 0% to X tons for the first time since 2016, thus ending a two-year declining trend. Overall, exports continue to indicate significant growth. The growth pace was the most rapid in 2016 with an increase of 1,524%. As a result, the exports reached the peak of X tons. From 2017 to 2019, the growth of the exports failed to regain momentum.

In value terms, beef exports stood at $X in 2019. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 712%. Over the period under review, the exports hit record highs in 2019 and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for beef exports from Iraq, with a approx. 100% share of total exports.

From 2012 to 2019, the average annual rate of growth in terms of volume to Turkey amounted to +48.2%.

From 2012 to 2019, the average annual rate of growth in terms of value to Turkey amounted to +42.1%.

Export Prices by Country

The average beef export price stood at $X per ton in 2019, flattening at the previous year. Overall, the export price saw a noticeable contraction. The growth pace was the most rapid in 2016 when the average export price decreased by -50%. The export price peaked at $X per ton in 2012; however, from 2013 to 2019, the export prices stood at a somewhat lower figure.

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

From 2012 to 2019, the rate of growth in terms of prices for Turkey amounted to -4.1% per year.

Beef Imports

Imports into Iraq

In 2021, supplies from abroad of beef (cattle meat) increased by 39% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2015 when imports increased by 58% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, beef imports surged to $X in 2021. Overall, imports recorded a strong increase. The growth pace was the most rapid in 2015 when imports increased by 90%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, India (X tons) was the main beef supplier to Iraq, accounting for a 95% share of total imports. It was followed by Brazil (X tons), with a 3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from India amounted to +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+23.8% per year) and Jordan (-22.0% per year).

In value terms, India ($X) constituted the largest supplier of beef (cattle meat) to Iraq, comprising 91% of total imports. The second position in the ranking was held by Brazil ($X), with a 5.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from India stood at +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+25.7% per year) and Jordan (-21.7% per year).

Import Prices by Country

The average beef import price stood at $X per ton in 2021, dropping by -3% against the previous year. Over the period under review, the import price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2015 when the average import price increased by 20% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Jordan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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