GCC: Grain Market 2024

Grain Market Size in GCC

The GCC grain market soared to $X in 2022, rising by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Grain Production in GCC

In value terms, grain production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild downturn. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were the United Arab Emirates (X tons), Saudi Arabia (X tons) and Oman (X tons), with a combined X% share of total production.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while production for the other leaders experienced mixed trends in the production figures.

In 2022, the average grain yield in GCC rose sharply to X tons per ha, picking up by X% on the previous year's figure. Over the period under review, the yield enjoyed a remarkable increase. The pace of growth was the most pronounced in 2020 when the yield increased by X% against the previous year. The level of yield peaked in 2022 and is expected to retain growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of grain production in GCC reached X ha, remaining stable against the previous year. Overall, the harvested area, however, continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the harvested area dedicated to grain production reached the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Grain Exports

Exports in GCC

In 2022, overseas shipments of grain decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, grain exports dropped markedly to $X in 2022. Overall, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates represented the main exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Oman (X tons), mixing up a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to grain exports from the United Arab Emirates stood at X%. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. While the share of Oman (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, rising by X% against the previous year. Export price indicated a perceptible expansion from 2012 to 2022: its price 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. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Oman totaled $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%).

Grain Imports

Imports in GCC

In 2022, imports of grain in GCC expanded remarkably to X tons, with an increase of X% compared with 2021 figures. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, grain imports rose remarkably to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia was the major importer of grain in GCC, with the volume of imports recording X tons, which was near X% of total imports in 2022. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Kuwait (X tons) and Oman (X tons). All these countries together held approx. X% share of total imports. Qatar (X tons) took a little share of total imports.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of imports of grain. At the same time, Kuwait (X%), Oman (X%) and Qatar (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. While the share of Kuwait (X p.p.) and Oman (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($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 (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform