Kazakhstan: Peanut Butter Market 2023

Peanut Butter Market Size in Kazakhstan

The Kazakh peanut butter market soared to $X in 2021, growing by 16% against the previous year. Over the period under review, consumption enjoyed a prominent increase. Peanut butter consumption peaked in 2021 and is likely to see steady growth in years to come.

Peanut Butter Production in Kazakhstan

In value terms, peanut butter production rose notably to $X in 2021 estimated in export price. In general, production saw a strong expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 94%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Peanut Butter Exports

Exports from Kazakhstan

After five years of growth, overseas shipments of peanut butter and prepared or preserved groundnuts decreased by -15.4% to X tons in 2021. In general, exports, however, showed pronounced growth. The pace of growth appeared the most rapid in 2020 with an increase of 121%. As a result, the exports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, peanut butter exports soared to $X in 2021. Over the period under review, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 111%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

Kyrgyzstan (X tons) was the main destination for peanut butter exports from Kazakhstan, with a 75% share of total exports. Moreover, peanut butter exports to Kyrgyzstan exceeded the volume sent to the second major destination, Russia (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kyrgyzstan totaled +69.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-10.9% per year) and Uzbekistan (+41.7% per year).

In value terms, Kyrgyzstan ($X) remains the key foreign market for peanut butter and prepared or preserved groundnuts exports from Kazakhstan, comprising 74% of total exports. The second position in the ranking was held by Russia ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Kyrgyzstan amounted to +71.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-9.9% per year) and Uzbekistan (+68.3% per year).

Export Prices by Country

In 2021, the average peanut butter export price amounted to $X per ton, surging by 61% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, peanut butter export price increased by +71.7% against 2018 indices. 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 for the major external markets. In 2021, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+18.9%), while the prices for the other major destinations experienced more modest paces of growth.

Peanut Butter Imports

Imports into Kazakhstan

Peanut butter imports into Kazakhstan skyrocketed to X tons in 2021, jumping by 49% on 2020. In general, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 174%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, peanut butter imports soared to $X in 2021. Overall, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 79% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

China (X tons), Russia (X tons) and the UK (X tons) were the main suppliers of peanut butter imports to Kazakhstan, together comprising 97% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +21.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest peanut butter suppliers to Kazakhstan were China ($X), Russia ($X) and the UK ($X), with a combined 97% share of total imports.

Russia, with a CAGR of +16.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average peanut butter import price amounted to $X per ton, declining by -15.3% against the previous year. In general, the import price recorded a pronounced shrinkage. The growth pace was the most rapid in 2020 an increase of 20% 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 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Russia ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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