Kuwait: Groundnuts Market 2024

Groundnuts Market Size in Kuwait

The Kuwaiti groundnuts market expanded slightly to $X in 2022, rising by X% against the previous year. Over the period under review, the total consumption indicated a modest increase from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. Groundnuts consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Groundnuts Production in Kuwait

In value terms, groundnuts production stood at $X in 2022 estimated in export price. In general, production faced a sharp reduction. The pace of growth appeared the most rapid in 2013 when the production volume decreased by X% against the previous year. Groundnuts production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

In 2022, the average groundnuts yield in Kuwait stood at less than X kg per ha, therefore, remained relatively stable against 2021 figures. Overall, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of ground-nut (in-shell) were harvested in Kuwait; approximately mirroring the previous year's figure. Over the period under review, the harvested area recorded a relatively flat trend pattern.

Groundnuts Exports

Exports from Kuwait

In 2021, the amount of ground-nut (in-shell) exported from Kuwait dropped notably to X kg, shrinking by X% on the year before. Overall, exports showed a dramatic shrinkage. The smallest decline of X% was in 2016. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, groundnuts exports contracted remarkably to $X in 2021. Over the period under review, exports showed a precipitous shrinkage. The growth pace was the most rapid in 2016 when exports increased by X%. The exports peaked at $X in 2020, and then contracted notably in the following year.

Exports by Country

Qatar (X kg) was the main destination for groundnuts exports from Kuwait, with a approx. X% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of volume to Qatar totaled X%.

In value terms, Qatar ($X) emerged as the key foreign market for ground-nut (in-shell) exports from Kuwait.

From 2013 to 2021, the average annual growth rate of value to Qatar totaled X%.

Export Prices by Country

The average groundnuts export price stood at $X per ton in 2021, surging by X% against the previous year. In general, the export price continues to indicate a significant expansion. The pace of growth was the most pronounced in 2016 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Qatar.

From 2013 to 2021, the rate of growth in terms of prices for Qatar amounted to X% per year.

Groundnuts Imports

Imports into Kuwait

Groundnuts imports into Kuwait dropped to X tons in 2022, shrinking by X% on the previous year. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, groundnuts imports rose significantly to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of groundnuts to Kuwait, with a X% share of total imports. Moreover, groundnuts imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The United Arab Emirates (X tons) ranked third in terms of total imports with an X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United Arab Emirates (X% per year).

In value terms, China ($X) constituted the largest supplier of ground-nut (in-shell) to Kuwait, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with an X% share.

From 2013 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The average groundnuts import price stood at $X per ton in 2022, growing by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Egypt ($X per ton) and India ($X per ton), while the price for China ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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