GCC: Groundnuts Market 2025

Groundnuts Market Size in GCC

After two years of decline, the GCC groundnuts market increased by 6.5% to $X in 2022. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Groundnuts Production in GCC

In value terms, groundnuts production reached $X in 2022 estimated in export price. In general, production, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 134%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Saudi Arabia (X tons) remains the largest groundnuts producing country in GCC, comprising approx. 92% of total volume. Moreover, groundnuts production in Saudi Arabia exceeded the figures recorded by the second-largest producer, Oman (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Saudi Arabia was relatively modest.

The average groundnuts yield amounted to X tons per ha in 2022, with an increase of 4.7% compared with the previous year. 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 somewhat noticeable fluctuations being observed in certain years. As a result, the yield attained the peak level and is likely to continue growth in the immediate term. 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 ground-nut (in-shell) production in GCC was estimated at X ha, approximately reflecting the previous year's figure. In general, the harvested area, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the harvested area increased by 4.9%. The level of harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area stood at a somewhat lower figure.

Groundnuts Exports

Exports in GCC

In 2022, approx. X tons of ground-nut (in-shell) were exported in GCC; which is down by -43.7% against 2021 figures. Overall, exports, however, saw a strong increase. The growth pace was the most rapid in 2013 when exports increased by 298% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, groundnuts exports contracted remarkably to $X in 2022. In general, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 231% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Oman represented the largest exporting country with an export of about X tons, which amounted to 80% of total exports. It was distantly followed by the United Arab Emirates (X tons), committing an 18% share of total exports. Bahrain (X tons) held a relatively small share of total exports.

Oman was also the fastest-growing in terms of the ground-nut (in-shell) exports, with a CAGR of +92.8% from 2012 to 2022. At the same time, the United Arab Emirates (+2.8%) displayed positive paces of growth. Bahrain experienced a relatively flat trend pattern. Oman (+80 p.p.) and Bahrain (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -57.4% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X), Oman ($X) and Bahrain ($X) appeared to be the countries with the highest levels of exports in 2022.

Among the main exporting countries, Oman, with a CAGR of +60.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, shrinking by -40.2% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The pace of growth was the most pronounced in 2016 when the export price increased by 16% against the previous year. 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.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($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 (+10.4%), while the other leaders experienced a decline in the export price figures.

Groundnuts Imports

Imports in GCC

In 2022, overseas purchases of ground-nut (in-shell) were finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2014 with an increase of 26%. 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 stood at $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 69%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) represented the largest importer of ground-nut (in-shell), achieving 61% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Bahrain (X tons) and Kuwait (X tons). All these countries together took approx. 34% share of total imports. Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to groundnuts imports into Saudi Arabia stood at -1.1%. At the same time, Qatar (+4.7%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +4.7% from 2012-2022. By contrast, Bahrain (-1.4%), Kuwait (-1.9%) and the United Arab Emirates (-7.2%) illustrated a downward trend over the same period. Saudi Arabia (+8.5 p.p.) and Qatar (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -12.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported ground-nut (in-shell) in GCC, comprising 64% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total imports. It was followed by Bahrain, with a 9.9% share.

In Saudi Arabia, groundnuts imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (-5.5% per year) and Bahrain (+3.6% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, waning by -7.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2018 an increase of 40% against the previous year. The level of import peaked at $X per ton in 2021, and then reduced in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Bahrain ($X per ton) and Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) and Kuwait ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform