GCC: Preserved Frozen Potato Market 2024

Preserved Frozen Potato Exports

Exports in GCC

In 2021, approx. X tons of frozen potatoes prepared or preserved were exported in GCC; which is down by -17.2% compared with the previous year's figure. Over the period under review, exports, however, showed prominent growth. The growth pace was the most rapid in 2017 when exports increased by 1,420% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020, and then declined sharply in the following year.

In value terms, preserved frozen potato exports dropped to $X in 2021. In general, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2017 when exports increased by 1,045% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020, and then declined in the following year.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X tons, which was near 89% of total exports in 2021. It was distantly followed by Saudi Arabia (X tons), achieving an 8% share of total exports. Oman (X tons) took a relatively small share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +22.5% from 2012 to 2021. At the same time, Oman (+32.9%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +32.9% from 2012-2021. Saudi Arabia experienced a relatively flat trend pattern. From 2012 to 2021, the share of the United Arab Emirates increased by +28 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest preserved frozen potato supplier in GCC, comprising 89% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with an 8.1% share of total exports.

In the United Arab Emirates, preserved frozen potato exports expanded at an average annual rate of +21.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-0.5% per year) and Oman (+29.8% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, surging by 2.8% against the previous year. In general, the export price, however, saw a slight contraction. The most prominent rate of growth was recorded in 2016 when the export price increased by 13% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-0.6%), while the other leaders experienced a decline in the export price figures.

Preserved Frozen Potato Imports

Imports in GCC

Preserved frozen potato imports surged to X tons in 2021, rising by 23% against the previous year. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.5% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved frozen potato imports soared to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +52.8% against 2015 indices. The pace of growth appeared the most rapid in 2019 with an increase of 25%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

Saudi Arabia was the largest importer of frozen potatoes prepared or preserved in GCC, with the volume of imports resulting at X tons, which was approx. 57% of total imports in 2021. Kuwait (X tons) ranks second in terms of the total imports with a 16% share, followed by the United Arab Emirates (15%). The following importers - Oman (X tons), Bahrain (X tons) and Qatar (X tons) - each reached a 12% share of total imports.

Imports into Saudi Arabia increased at an average annual rate of +5.2% from 2012 to 2021. At the same time, Qatar (+15.9%), Kuwait (+10.2%), Oman (+7.7%), Bahrain (+6.7%) and the United Arab Emirates (+5.8%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +15.9% from 2012-2021. While the share of Kuwait (+4.4 p.p.) and Qatar (+2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Saudi Arabia (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported frozen potatoes prepared or preserved in GCC, comprising 56% of total imports. The second position in the ranking was held by Kuwait ($X), with a 17% share of total imports. It was followed by the United Arab Emirates, with a 15% share.

In Saudi Arabia, preserved frozen potato imports increased at an average annual rate of +4.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kuwait (+11.7% per year) and the United Arab Emirates (+5.5% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, dropping by -2% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 15%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Qatar ($X per ton) and Kuwait ($X per ton), while Bahrain ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform