Oman: Butter And Ghee Market 2024

Butter And Ghee Market Size in Oman

In 2022, the Omani butter and ghee market decreased by X% to $X, falling for the second consecutive year after seven years of growth. Overall, consumption, however, enjoyed a prominent expansion. Butter and ghee consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Butter And Ghee Production in Oman

In value terms, butter and ghee production expanded markedly to $X in 2022 estimated in export price. Overall, production showed a prominent expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Butter and ghee production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Butter And Ghee Exports

Exports from Oman

In 2022, exports of butter and ghee from Oman contracted sharply to X tons, which is down by X% on the previous year's figure. Overall, exports faced a significant decline. The pace of growth appeared the most rapid in 2020 with an increase of X%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, butter and ghee exports fell to $X in 2022. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for butter and ghee exports from Oman, with a X% share of total exports. Moreover, butter and ghee exports to Saudi Arabia exceeded the volume sent to the second major destination, Free Zones (X tons), twofold. Yemen (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (X% per year) and Yemen (X% per year).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for butter and ghee exports from Oman, comprising X% of total exports. The second position in the ranking was taken by Free Zones ($X), with a X% share of total exports. It was followed by Yemen, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (X% per year) and Yemen (X% per year).

Export Prices by Country

The average butter and ghee export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Saudi Arabia ($X per ton) and Free Zones ($X per ton), while the average price for exports to Qatar ($X per ton) and Yemen ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into Oman

In 2022, supplies from abroad of butter and ghee decreased by X% to X tons, falling for the second year in a row after four years of growth. In general, imports, however, posted a pronounced expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, butter and ghee imports fell significantly to $X in 2022. Over the period under review, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Denmark (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main suppliers of butter and ghee imports to Oman, together accounting for X% of total imports. India, Malaysia, Turkey, Argentina and New Zealand lagged somewhat behind, together comprising a further X%.

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

In value terms, Denmark ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) constituted the largest butter and ghee suppliers to Oman, together accounting for X% of total imports. India, Malaysia, Turkey, Argentina and New Zealand lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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 2022, the average butter and ghee import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated a strong 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. Based on 2022 figures, butter and ghee import price increased by X% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Malaysia ($X per ton) and India ($X per ton), while the price for Saudi Arabia ($X per ton) and Denmark ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :