MENA: Oleo Oils Market 2024

Oleo Oils Market Size in MENA

After two years of growth, the MENA's oleo oils market decreased by X% to $X in 2022. Overall, consumption, however, showed a sharp reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Oleo Oils Production in MENA

In value terms, oleo oils production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Oleo Oils Exports

Exports in MENA

In 2022, after two years of growth, there was significant decline in overseas shipments of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil, when their volume decreased by X% to X tons. Overall, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, oleo oils exports fell remarkably to $X in 2022. Over the period under review, exports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Iran dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Oman (X tons) and Turkey (X tons), together making up a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to oleo oils exports from Iran stood at X%. At the same time, Turkey (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. By contrast, Oman (X%) illustrated a downward trend over the same period. Iran (X p.p.), Oman (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iran ($X), Turkey ($X) and Oman ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (X%), while the other leaders experienced mixed trends in the export price figures.

Oleo Oils Imports

Imports in MENA

After two years of growth, supplies from abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil decreased by X% to X tons in 2022. In general, imports faced a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, oleo oils imports dropped dramatically to $X in 2022. Overall, imports faced a deep contraction. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Kuwait represented the major importer of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in MENA, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. Turkey (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%). The following importers - Egypt (X tons), Libya (X tons) and Lebanon (X tons) - together made up X% of total imports.

Kuwait experienced a relatively flat trend pattern with regard to volume of imports of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil. Libya (X%), Turkey (X%), Oman (X%), Egypt (X%) and Lebanon (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kuwait, Egypt, Turkey, Libya and Oman increased by X, X, X, X and X percentage points, respectively.

In value terms, Kuwait ($X) constitutes the largest market for imported lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in MENA, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with an X% share of total imports. It was followed by Lebanon, with a X% share.

In Kuwait, oleo oils imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Lebanon (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated a mild expansion from 2012 to 2022: its price 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. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Lebanon ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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