Kuwait: Frozen Turkey Cut Market 2024

Frozen Turkey Cut Market Size in Kuwait

The Kuwaiti frozen turkey cut market fell remarkably to $X in 2022, which is down by -29.2% 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, however, continues to indicate a mild expansion. As a result, consumption attained the peak level of $X, and then fell remarkably in the following year.

Frozen Turkey Cut Exports

Exports from Kuwait

In 2022, approx. X tons of frozen cuts of turkey were exported from Kuwait; picking up by 14% against the previous year. In general, exports, however, saw a deep setback. The pace of growth was the most pronounced in 2018 when exports increased by 120% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, frozen turkey cut exports expanded markedly to $X in 2022. Over the period under review, exports, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 121%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons), Liberia (X tons) and Saudi Arabia (X tons) were the main destinations of frozen turkey cut exports from Kuwait, with a combined 73% share of total exports. Qatar, the United Arab Emirates, Iraq and Bahrain lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +17.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for frozen turkey cut exported from Kuwait were Turkey ($X), Qatar ($X) and Saudi Arabia ($X), together comprising 73% of total exports. The United Arab Emirates, Liberia, Iraq and Bahrain lagged somewhat behind, together accounting for a further 27%.

In terms of the main countries of destination, Bahrain, with a CAGR of +1.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average frozen turkey cut export price stood at $X per ton in 2022, stabilizing at the previous year. In general, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the average export price increased by 43%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Bahrain ($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 the United Arab Emirates (+5.8%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Turkey Cut Imports

Imports into Kuwait

In 2022, the amount of frozen cuts of turkey imported into Kuwait reduced rapidly to X tons, with a decrease of -18.9% on 2021 figures. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 110% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, frozen turkey cut imports fell rapidly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 145% against the previous year. As a result, imports reached the peak of $X, and then fell markedly in the following year.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of frozen turkey cut to Kuwait, with a 59% share of total imports. Moreover, frozen turkey cut imports from Turkey exceeded the figures recorded by the second-largest supplier, Oman (X tons), threefold. Brazil (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey amounted to +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (+15.5% per year) and Brazil (-4.7% per year).

In value terms, Turkey ($X) constituted the largest supplier of frozen cuts of turkey to Kuwait, comprising 71% of total imports. The second position in the ranking was held by Brazil ($X), with a 15% share of total imports. It was followed by Oman, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey stood at +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-2.5% per year) and Oman (+10.7% per year).

Import Prices by Country

The average frozen turkey cut import price stood at $X per ton in 2022, shrinking by -13.2% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 23% against the previous year. The import price peaked at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Oman ($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 (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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