Kuwait: Butter And Ghee Market 2024

Butter And Ghee Market Size in Kuwait

The Kuwaiti butter and ghee market soared to $X in 2022, rising 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, the total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in the near future.

Butter And Ghee Exports

Exports from Kuwait

In 2022, shipments abroad of butter and ghee increased by X% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, butter and ghee exports soared to $X in 2022. Overall, exports showed a modest increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. The exports peaked at $X in 2017; afterwards, it flattened through to 2022.

Exports by Country

Iraq (X tons) was the main destination for butter and ghee exports from Kuwait, accounting for a X% share of total exports. Moreover, butter and ghee exports to Iraq exceeded the volume sent to the second major destination, Saudi Arabia (X tons), twofold. The third position in this ranking was taken by Jordan (X tons), with a X% share.

From 2013 to 2022, the average annual growth rate of volume to Iraq amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Jordan (X% per year).

In value terms, Iraq ($X) remains the key foreign market for butter and ghee exports from Kuwait, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports. It was followed by Jordan, with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of value to Iraq was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Jordan (X% per year).

Export Prices by Country

In 2022, the average butter and ghee export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price posted resilient growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Oman ($X per ton) and Iraq ($X per ton), while the average price for exports to Qatar ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into Kuwait

Butter and ghee imports into Kuwait expanded modestly to X tons in 2022, increasing by X% compared with 2021. The total import volume increased at an average annual rate of X% from 2013 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, butter and ghee imports surged to $X in 2022. Over the period under review, total imports indicated resilient growth from 2013 to 2022: its value increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of butter and ghee to Kuwait, accounting for a X% share of total imports. Moreover, butter and ghee imports from New Zealand exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), threefold. The third position in this ranking was taken by Australia (X tons), with an X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume from New Zealand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Australia (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter and ghee to Kuwait, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2013 to 2022, the average annual growth rate of value from New Zealand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Australia (X% per year).

Import Prices by Country

In 2022, the average butter and ghee import price amounted to $X per ton, jumping by X% against the previous year. Over the period from 2013 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Denmark ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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