Kuwait: Groundnut Oil Market 2025

Groundnut Oil Market Size in Kuwait

The Kuwaiti groundnut oil market expanded markedly to $X in 2021, increasing by 5% against the previous year. Over the period under review, consumption enjoyed a noticeable increase. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in years to come.

Groundnut Oil Production in Kuwait

In value terms, groundnut oil production soared to $X in 2021 estimated in export price. In general, production, however, saw a mild curtailment. The pace of growth appeared the most rapid in 2017 when the production volume increased by 221%. Groundnut oil production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Groundnut Oil Exports

Exports from Kuwait

In 2019, the amount of groundnut oil exported from Kuwait fell notably to X kg, dropping by -85.6% against the previous year's figure. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 28%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2019, the exports failed to regain momentum.

In value terms, groundnut oil exports declined notably to $X in 2019. Over the period under review, exports faced a abrupt decrease. The pace of growth was the most pronounced in 2014 when exports increased by 52%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2019, the exports remained at a lower figure.

Exports by Country

Bahrain (X kg) was the main destination for groundnut oil exports from Kuwait, with a 92% share of total exports. Moreover, groundnut oil exports to Bahrain exceeded the volume sent to the second major destination, Oman (X kg), more than tenfold.

From 2012 to 2019, the average annual growth rate of volume to Bahrain amounted to -86.7%.

In value terms, the largest markets for groundnut oil exported from Kuwait were Bahrain ($X) and Oman ($X).

Oman, with a CAGR of 0.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2019, the average groundnut oil export price amounted to $X per ton, rising by 12% against the previous year. In general, the export price, however, saw a slight slump. The growth pace was the most rapid in 2017 an increase of 180%. The export price peaked at $X per ton in 2014; however, from 2015 to 2019, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2019, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Bahrain stood at $X per ton.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (-19.4%).

Groundnut Oil Imports

Imports into Kuwait

In 2021, imports of groundnut oil into Kuwait dropped markedly to X tons, with a decrease of -20.7% compared with the previous year. In general, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 298% against the previous year. Imports peaked at X tons in 2020, and then fell markedly in the following year.

In value terms, groundnut oil imports soared to $X in 2021. Overall, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 229% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, India (X tons) constituted the largest groundnut oil supplier to Kuwait, accounting for a 51% share of total imports. Moreover, groundnut oil imports from India exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India amounted to +47.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+53.6% per year) and the United States (+18.3% per year).

In value terms, India ($X) constituted the largest supplier of groundnut oil to Kuwait, comprising 47% of total imports. The second position in the ranking was held by Belgium ($X), with a 19% share of total imports. It was followed by the United States, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value from India amounted to +46.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+41.2% per year) and the United States (+12.9% per year).

Import Prices by Country

In 2021, the average groundnut oil import price amounted to $X per ton, increasing by 54% against the previous year. In general, the import price, however, recorded a noticeable slump. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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