IndexBox has just published a new report, the Middle East - Margarine And Shortening - Market Analysis, Forecast, Size, Trends and Insights. Here is a summary of the report's key findings.
Imports in the Middle East
In 2017, the amount of margarine and shortening imported in the Middle East totaled 353K tonnes, waning by -5.1% against the previous year. The total imports indicated a remarkable increase from 2007 to 2017: its volume increased at an average annual rate of +5.9% over the last decade. In value terms, margarine and shortening imports totaled $411M (IndexBox estimates) in 2017.
Imports by Country
In 2017, Iraq (99K tonnes), distantly followed by Saudi Arabia (64K tonnes), Syrian Arab Republic (41K tonnes), Turkey (38K tonnes), Iran (32K tonnes), the United Arab Emirates (21K tonnes) and Lebanon (16K tonnes) were the key importers of margarine and shortening, together comprising 88% of total imports.
From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Lebanon (+19.4% per year), while the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2017, the margarine and shortening import price in the Middle East amounted to $1.2 per kg, jumping by 4.7% against the previous year. Over the period from 2007 to 2017, it increased at an average annual rate of +1.3%.
Average import prices varied somewhat amongst the major importing countries. In 2017, major importing countries recorded the following import prices: in Turkey ($1.4 per kg) and the United Arab Emirates ($1.4 per kg), while Iraq ($965 per tonne) and Syrian Arab Republic ($1 per kg) were amongst the lowest.
From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by the United Arab Emirates (+4.0% per year), while the other leaders experienced more modest paces of growth.
Source: Middle East - Margarine And Shortening - Market Analysis, Forecast, Size, Trends and Insights