Kuwait: Market for Broad Beans And Horse Beans (Dry) 2024

Market Size for Broad Beans And Horse Beans (Dry) in Kuwait

The Kuwaiti market for broad beans and horse beans (dry) dropped to $X in 2022, which is down by -5.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a pronounced descent. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Exports of Broad Beans And Horse Beans (Dry)

Exports from Kuwait

In 2022, exports of broad beans and horse beans (dry) from Kuwait declined notably to X tons, waning by -23.9% compared with 2021 figures. Over the period under review, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2017 with an increase of 190%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, broad bean and horse bean exports declined sharply to $X in 2022. Overall, exports saw a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of 158% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons), China (X tons) and Bahrain (X tons) were the main destinations of broad bean and horse bean exports from Kuwait, together comprising 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of -5.7%), while shipments for the other leaders experienced a decline.

In value terms, China ($X) remains the key foreign market for broad beans and horse beans (dry) exports from Kuwait, comprising 72% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by Bahrain, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-13.7% per year) and Bahrain (-17.2% per year).

Export Prices by Country

The average export price for broad beans and horse beans (dry) stood at $X per ton in 2022, growing by 1.8% against the previous year. In general, the export price, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2015 when the average export price increased by 66% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+43.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Broad Beans And Horse Beans (Dry)

Imports into Kuwait

In 2022, approx. X tons of broad beans and horse beans (dry) were imported into Kuwait; declining by -8.7% against 2021 figures. Overall, imports recorded a noticeable descent. The pace of growth appeared the most rapid in 2019 with an increase of 64%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, broad bean and horse bean imports fell modestly to $X in 2022. Over the period under review, imports showed a perceptible decline. The pace of growth was the most pronounced in 2019 with an increase of 94%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Egypt (X tons) constituted the largest supplier of broad bean and horse bean to Kuwait, accounting for a 44% share of total imports. Moreover, broad bean and horse bean imports from Egypt exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. Peru (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Egypt totaled +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-0.8% per year) and Peru (+27.2% per year).

In value terms, Egypt ($X), Peru ($X) and Australia ($X) constituted the largest broad bean and horse bean suppliers to Kuwait, together comprising 72% of total imports. The United Arab Emirates, China, the UK, Tunisia, Canada and Lebanon lagged somewhat behind, together accounting for a further 20%.

The United Arab Emirates, with a CAGR of +39.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for broad beans and horse beans (dry) stood at $X per ton in 2022, growing by 5.2% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 19% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Tunisia ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :