Kuwait: Frozen Potato Market 2024

Frozen Potato Market Size in Kuwait

The Kuwaiti frozen potato market rose slightly to $X in 2021, with an increase of 2.1% 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). The market value increased at an average annual rate of +4.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Frozen potato consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Frozen Potato Exports

Exports from Kuwait

In 2021, overseas shipments of frozen potatoes were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports continue to indicate a significant increase. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen potato exports soared to $X in 2021. Over the period under review, exports recorded significant growth. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Qatar (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main destinations of frozen potato exports from Kuwait, together comprising 89% of total exports.

From 2012 to 2021, the biggest increases were recorded for Qatar (with a CAGR of +86.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) remains the key foreign market for frozen potatoes exports from Kuwait, comprising 59% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 20% share of total exports. It was followed by the United Arab Emirates, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar amounted to +69.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+13.1% per year) and the United Arab Emirates (+21.6% per year).

Export Prices by Country

The average frozen potato export price stood at $X per ton in 2021, dropping by -39% against the previous year. In general, the export price faced a deep downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 81%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (-9.1%), while the prices for the other major destinations experienced a decline.

Frozen Potato Imports

Imports into Kuwait

For the sixth year in a row, Kuwait recorded growth in supplies from abroad of frozen potatoes, which increased by 4.5% to X tons in 2021. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 16%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, frozen potato imports rose rapidly to $X in 2021. The total import value increased at an average annual rate of +5.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 27%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of frozen potato to Kuwait, with a 27% share of total imports. Moreover, frozen potato imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Egypt (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands stood at -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+2.3% per year) and the United States (+2.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of frozen potatoes to Kuwait, comprising 30% of total imports. The second position in the ranking was taken by Egypt ($X), with an 8.5% share of total imports. It was followed by the United States, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+1.8% per year) and the United States (+1.3% per year).

Import Prices by Country

In 2021, the average frozen potato import price amounted to $X per ton, approximately mirroring the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2013 when the average import price increased by 19%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lebanon (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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