The project concept is based on establishing a sunflower oil production and packaging plant in Iraq. The project targets wholesale and retail stores, hypermarkets, supermarkets, restaurants, hotels, and individuals, who are considered the final consumers. The project aims to contribute to achieving self-sufficiency in edible oils, reduce import volume, and cover part of the growing demand for edible oils in Iraq. It is noteworthy that the project will use the latest production lines and employ skilled technical workers, thus enabling it to carve out its share of the target market. Note that the project will exploit waste from the production process and then sell it to feed factories.
The global edible oils industry revenue is around USD 90.42 billion and the market is expected to grow annually at a CAGR of 10.28% (2022-2027).
The world consumes approximately 20.47 million metric tons of sunflower oil. According to our statistics, global consumption of sunflower oil increased by an average annual rate of 5.5% during the period (2015-2021).
Iraq imported approximately $456.6 million worth of sunflower, safflower, and cottonseed oils and their fractions in 2021.
Iraq’s imports of sunflower oil are expected to increase by an average of 5% during the period (2021-2030).
The number of factories in Iraq will increase at a compound annual growth rate of 8.9% over the coming years.
By the end of 2022, the manufacturing sector’s contribution to the country’s GDP is expected to reach 3,088.5 billion dinars.
