Iraq: Market for Malt Extract And Food Preparations Of Flour, Meal, And Starch 2024

Market Size for Malt Extract And Food Preparations Of Flour, Meal, And Starch in Iraq

The Iraqi market for malt extract and food preparations of flour, meal, and starches surged to $X in 2022, picking up 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). Overall, consumption enjoyed a buoyant expansion. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Exports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Exports from Iraq

In 2022, shipments abroad of malt extract and food preparations of flour, meal, and starches was finally on the rise to reach X tons for the first time since 2014, thus ending a seven-year declining trend. Over the period under review, exports, however, saw a precipitous decline. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of malt extract and food preparations of flour, meal, and starches amounted to $X in 2022. In general, exports, however, faced a sharp decrease. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Angola (X tons) was the main destination for exports of malt extract and food preparations of flour, meal, and starches from Iraq, accounting for a X% share of total exports. Moreover, exports of malt extract and food preparations of flour, meal, and starches to Angola exceeded the volume sent to the second major destination, Turkey (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to Angola stood at X%.

In value terms, Angola ($X) remains the key foreign market for malt extract and food preparations of flour, meal, and starches exports from Iraq, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Angola stood at X%.

Export Prices by Country

The average export price for malt extract and food preparations of flour, meal, and starches stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Turkey stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%).

Imports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Imports into Iraq

In 2022, approx. X tons of malt extract and food preparations of flour, meal, and starches were imported into Iraq; jumping by X% compared with the previous year's figure. In general, imports recorded a prominent expansion. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports of hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, imports of malt extract and food preparations of flour, meal, and starches surged to $X in 2022. Over the period under review, imports posted a remarkable increase. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports of hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest malt extract and food preparations of flour, meal, and starch supplier to Iraq, accounting for a X% share of total imports. Moreover, imports of malt extract and food preparations of flour, meal, and starches from Vietnam exceeded the figures recorded by the second-largest supplier, Ireland (X tons), threefold. The third position in this ranking was held by the United Arab Emirates (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (X% per year) and the United Arab Emirates (X% per year).

In value terms, the largest malt extract and food preparations of flour, meal, and starch suppliers to Iraq were Vietnam ($X), Ireland ($X) and the United Arab Emirates ($X), with a combined X% share of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for malt extract and food preparations of flour, meal, and starches amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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