GULF STILL A MAJOR MARKET FOR BIO-BASED OILS AND FATS, DESPITE GLOBAL ECONOMIC DOWNTURN
January 1st, 2009
BY PAUL COCHRANE
THE MIDDLE East and North Africa region (that economists like to award the acronym 'MENA') consumes 6% of the global vegetable oil market and sucks in 15% of global imports, with strong growth across the board on the back of rising per capita GDP and a burgeoning population. With a consumption volume of 7.1 million tonnes in bio-based oils and valued at US$5.6 billon, the sector is increasing as per capita consumption rises, with the market growing at a combined annual growth rate (CAGR) of 6%, from 5 million tonnes in 2000.
Per capita ...
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