GCC: Groundnuts Market 2024

Groundnuts Market Size in GCC

The GCC groundnuts market dropped modestly to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Groundnuts Production in GCC

In value terms, groundnuts production rose modestly to $X in 2022 estimated in export price. In general, production, however, showed a abrupt setback. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Saudi Arabia (X tons) and the United Arab Emirates (X tons).

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by the United Arab Emirates (with a CAGR of X%).

In 2022, the average groundnuts yield in GCC reached X tons per ha, with an increase of X% against the previous year. Over the period under review, the yield enjoyed a perceptible increase. The pace of growth was the most pronounced in 2013 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2014 to 2022, the growth of the groundnuts yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of ground-nut (in-shell) were harvested in GCC; remaining relatively unchanged against the previous year's figure. Overall, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to groundnuts production reached the maximum at X ha in 2017; however, from 2018 to 2022, the harvested area failed to regain momentum.

Groundnuts Exports

Exports in GCC

In 2022, exports of ground-nut (in-shell) in GCC surged to X tons, growing by X% compared with the year before. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, groundnuts exports surged to $X in 2022. In general, exports showed significant growth. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2022. Saudi Arabia (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the ground-nut (in-shell) exports, with a CAGR of X% from 2012 to 2022. At the same time, Saudi Arabia (X%) displayed positive paces of growth. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points.

In value terms, the United Arab Emirates ($X) remains the largest groundnuts supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

In the United Arab Emirates, groundnuts exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, recorded a pronounced reduction. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Groundnuts Imports

Imports in GCC

After two years of decline, purchases abroad of ground-nut (in-shell) increased by X% to X tons in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, groundnuts imports expanded markedly to $X in 2022. Total imports indicated a perceptible expansion 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. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) was the main importer of ground-nut (in-shell), achieving X% of total imports. It was distantly followed by the United Arab Emirates (X tons), Kuwait (X tons) and Bahrain (X tons), together committing a X% share of total imports. The following importers - Qatar (X tons) and Oman (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to groundnuts imports into Saudi Arabia stood at X%. At the same time, Oman (X%) and Qatar (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. Kuwait experienced a relatively flat trend pattern. By contrast, Bahrain (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kuwait and Oman increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported ground-nut (in-shell) in GCC, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Kuwait, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, reducing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then shrank slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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