Middle East: Butter Market 2024

Butter Market Size in the Middle East

The Middle Eastern butter market stood at $X in 2022, picking up by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Butter Production in the Middle East

In value terms, butter production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Butter Exports

Exports in the Middle East

In 2022, shipments abroad of butter increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports posted a resilient increase. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter exports soared to $X in 2022. In general, exports showed a resilient expansion. The growth pace was the most rapid in 2015 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Turkey (X tons) was the largest exporter of butter, achieving X% of total exports. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (X%) and Iran (X%).

Turkey was also the fastest-growing in terms of the butter exports, with a CAGR of X% from 2012 to 2022. At the same time, Iran (X%) and Saudi Arabia (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and Iran (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest butter supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, picking up by X% against the previous year. In general, the export price posted strong growth. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Butter Imports

Imports in the Middle East

After two years of decline, overseas purchases of butter increased by X% to X tons in 2022. In general, imports, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, butter imports skyrocketed to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons), distantly followed by Bahrain (X tons), the United Arab Emirates (X tons), Qatar (X tons) and Kuwait (X tons) represented the largest importers of butter, together comprising X% of total imports. The following importers - Iran (X tons), Israel (X tons), Iraq (X tons), Oman (X tons), Yemen (X tons), Jordan (X tons) and Lebanon (X tons) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iraq (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest butter importing markets in the Middle East were Saudi Arabia ($X), Bahrain ($X) and the United Arab Emirates ($X), together comprising X% of total imports. Qatar, Israel, Kuwait, Iran, Iraq, Oman, Jordan, Lebanon and Yemen lagged somewhat behind, together accounting for a further X%.

Iraq, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform

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