GCC: Durum Wheat Market 2024

Durum Wheat Market Size in GCC

In 2022, after two years of growth, there was decline in the GCC durum wheat market, when its value decreased by -3.2% to $X. Overall, consumption saw a significant expansion. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Durum Wheat Production in GCC

In value terms, durum wheat production soared to $X in 2022 estimated in export price. In general, production showed a deep reduction. The pace of growth appeared the most rapid in 2020 when the production volume increased by 114% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Saudi Arabia (X tons) constituted the country with the largest volume of durum wheat production, accounting for 96% of total volume. Moreover, durum wheat production in Saudi Arabia exceeded the figures recorded by the second-largest producer, Bahrain (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Saudi Arabia amounted to -3.7%.

In 2022, the average yield of durum wheat in GCC dropped slightly to X tons per ha, which is down by -2.2% on 2021. The yield figure increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the yield increased by 9.1% against the previous year. The level of yield peaked at X tons per ha in 2021, and then fell modestly in the following year. 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 durum wheat were harvested in GCC; declining by -2.4% on the year before. Overall, the harvested area continues to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2014 with an increase of 19%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Durum Wheat Exports

Exports in GCC

After two years of decline, overseas shipments of durum wheat increased by 34% to X tons in 2022. In general, exports, however, continue to indicate a abrupt decline. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, durum wheat exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt shrinkage. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, amounting to X tons, which was approx. 95% of total exports in 2022. It was distantly followed by Oman (X tons), constituting a 5% share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of -11.6% from 2012 to 2022. At the same time, Oman (+32.2%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +32.2% from 2012-2022. From 2012 to 2022, the share of Oman increased by +4.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest durum wheat supplier in GCC, comprising 94% of total exports. The second position in the ranking was taken by Oman ($X), with a 5.1% share of total exports.

In the United Arab Emirates, durum wheat exports shrank by an average annual rate of -7.4% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, picking up by 10% against the previous year. Overall, the export price posted a temperate expansion. The pace of growth appeared the most rapid in 2020 when the export price increased by 126% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates 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 (+4.8%).

Durum Wheat Imports

Imports in GCC

In 2022, durum wheat imports in GCC stood at X tons, picking up by 7.5% on 2021. Over the period under review, imports posted significant growth. The pace of growth was the most pronounced in 2017 when imports increased by 868% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, durum wheat imports dropped to $X in 2022. In general, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 599%. Over the period under review, imports attained the maximum at $X in 2021, and then dropped slightly in the following year.

Imports by Country

Saudi Arabia dominates imports structure, recording X tons, which was approx. 87% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), achieving a 6.5% share of total imports. Kuwait (X tons) and Oman (X tons) followed a long way behind the leaders.

Saudi Arabia was also the fastest-growing in terms of the durum wheat imports, with a CAGR of +188.4% from 2012 to 2022. At the same time, Kuwait (+20.6%) displayed positive paces of growth. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Oman (-9.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia increased by +87 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported durum wheat in GCC, comprising 86% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 8.6% share of total imports. It was followed by Kuwait, with a 3.3% share.

In Saudi Arabia, durum wheat imports increased at an average annual rate of +132.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+2.4% per year) and Kuwait (+18.6% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with a decrease of -7.3% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 21% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform