The Protected Designation of Origin (PDO) certification for halloumi has led to an increase in both the production and value of the product since 2020.
According to data from the Statistical Service, this upward trend is mirrored in Cypriot exports from 2020 onwards. Notably, for the first time this year, at least in the first four months of 2024 (January – April), halloumi has become the highest-value export among purely Cypriot products.
Halloumi has even surpassed pharmaceuticals, which had maintained the top position for years with a consistent upward trend. Despite challenges such as the COVID-19 pandemic and regional conflicts, exports have continued to grow since 2021.
For the first four months of 2024, the category-leading in export value of domestically produced products is petroleum products, with €216.7 million. However, these products are imported to Cyprus, processed, and then re-exported. Among products produced in Cyprus, halloumi holds the top spot in value with €118.2 million, followed by pharmaceuticals with €110.8 million.
In the first four months of 2024, halloumi exports amounted to 15,227 tons compared to 13,740 tons in the same period in 2023, with a value of €111.8 million. This represents an increase in both quantity and value compared to the corresponding period last year. In 2023, the total value of pharmaceutical exports was €355.6 million, compared to €336.4 million in 2022 and €321 million in 2021. Similarly, the value of halloumi exports was €313.3 million in 2023, €285.2 million in 2022, and €263 million in 2021.
The average price of exported halloumi has also increased since the PDO specifications were implemented. From 2013 through the transitional period until 2021, the average price ranged from €6.64 to €6.77 per kilogram. In 2022, the average price rose to €6.94, and it surged to €8.07 per kilogram in 2023, marking an increase of €1.13 per kilogram compared to 2022. In the first four months of 2024, the average price is €7.76 per kilogram, which is €0.31 lower than in 2023.
The goals to maintain halloumi as the main export product are achievable, supported by its PDO status, which ensures further growth potential. The government’s efforts to gradually increase the production of goat and sheep milk and to eliminate seasonality will also contribute to this goal.
Currently holding the top spot in Cypriot exports and leading the category of fresh and processed agricultural products, halloumi’s main export destinations are the United Kingdom, followed by Sweden. Promoting and marketing halloumi has become essential.
From 2017 to 2023, the value of halloumi exports doubled, while the export volume increased by approximately 60%. Specifically, the export value was €116.4 million in 2017 compared to €313.3 million in 2023. The quantity exported was 24,421 tons in 2017 and 38,799 tons in 2023.
The United Kingdom and Sweden have consistently been the largest markets for halloumi, with the UK accounting for nearly 50% of halloumi exports. It is noteworthy that the UK is now considered a third-country market for trade purposes.
The Trade Service of the Ministry of Commerce prioritizes further increasing exports of domestic Cypriot products, including halloumi. Their initiatives include various financial support schemes aimed at promoting agricultural and industrial products, as well as services, at international trade exhibitions.
Additionally, the ministry leverages Cypriot trade centers abroad to facilitate connections between Cypriot businesses and foreign companies and importers, fostering collaboration and promoting Cypriot products. They also develop studies and action plans to strengthen exports and enhance the promotion of Cypriot products.
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