GCC: Tapioca And Substitutes Market 2024

Tapioca And Substitutes Exports

Exports in GCC

In 2021, tapioca and substitutes exports in GCC shrank notably to X tons, reducing by -22.6% on the previous year. In general, exports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2015 when exports increased by 199%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, tapioca and substitutes exports surged to $X in 2021. Over the period under review, exports, however, recorded a remarkable increase. The growth pace was the most rapid in 2014 with an increase of 182%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Oman was the major exporter of tapioca and substitutes in GCC, with the volume of exports amounting to X tons, which was near 65% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), constituting a 29% share of total exports. Saudi Arabia (X tons) and Qatar (X tons) held a little share of total exports.

Exports from Oman increased at an average annual rate of +9.0% from 2012 to 2021. At the same time, Saudi Arabia (+12.2%) and the United Arab Emirates (+11.1%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +12.2% from 2012-2021. By contrast, Qatar (-12.7%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+6.5 p.p.) and Oman (+4.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Qatar (-11.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tapioca and substitutes supplying countries in GCC were Oman ($X), the United Arab Emirates ($X) and Qatar ($X), together comprising 94% of total exports.

Qatar, with a CAGR of +17.3%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, growing by 92% against the previous year. In general, the export price continues to indicate a tangible expansion. The most prominent rate of growth was recorded in 2013 when the export price increased by 144%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+34.3%), while the other leaders experienced mixed trends in the export price figures.

Tapioca And Substitutes Imports

Imports in GCC

In 2021, approx. X tons of tapioca and substitutes were imported in GCC; growing by 32% compared with the year before. In general, imports showed a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of 82% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, tapioca and substitutes imports amounted to $X in 2021. Overall, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2019 when imports increased by 212%. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the major importer of tapioca and substitutes, making up 51% of total imports. Saudi Arabia (X tons) held the second position in the ranking, distantly followed by Kuwait (X tons), Oman (X tons) and Bahrain (X tons). All these countries together took near 45% share of total imports. Qatar (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kuwait (with a CAGR of +25.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tapioca and substitutes importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), together accounting for 88% of total imports.

Among the main importing countries, Kuwait, with a CAGR of +25.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, reducing by -20.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the import price increased by 71% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($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 (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform