Kuwait: Paddy Rice Market 2024

Paddy Rice Market Size in Kuwait

The Kuwaiti paddy rice market contracted notably to $X in 2021, reducing by -91.7% 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). In general, consumption saw a dramatic downturn. As a result, consumption reached the peak level of $X, and then shrank notably in the following year.

Paddy Rice Exports

Exports from Kuwait

In 2021, after two years of decline, there was significant growth in shipments abroad of paddy rice, when their volume increased by 78% to X tons. Over the period under review, exports, however, showed a pronounced contraction. The growth pace was the most rapid in 2016 when exports increased by 1,359%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, paddy rice exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2013 when exports increased by 1,649%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for paddy rice exports from Kuwait, accounting for a 89% share of total exports. Moreover, paddy rice exports to Turkey exceeded the volume sent to the second major destination, Yemen (X kg), more than tenfold. The United Arab Emirates (X kg) ranked third in terms of total exports with a 2.5% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey stood at +25.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (-4.1% per year) and the United Arab Emirates (-32.1% per year).

In value terms, Turkey ($X) remains the key foreign market for paddy rice exports from Kuwait, comprising 90% of total exports. The second position in the ranking was taken by Yemen ($X), with a 5.5% share of total exports. It was followed by the United Arab Emirates, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey totaled +42.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (-1.9% per year) and the United Arab Emirates (-32.7% per year).

Export Prices by Country

In 2021, the average paddy rice export price amounted to $X per ton, growing by 8.8% against the previous year. In general, the export price, however, continues to indicate a noticeable slump. The pace of growth appeared the most rapid in 2013 when the average export price increased by 50%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Yemen ($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 Turkey (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Paddy Rice Imports

Imports into Kuwait

In 2021, the amount of paddy rice imported into Kuwait reduced notably to X tons, with a decrease of -92.3% against the previous year's figure. Over the period under review, imports faced a precipitous slump. The most prominent rate of growth was recorded in 2020 with an increase of 613% against the previous year. As a result, imports reached the peak of X tons, and then reduced sharply in the following year.

In value terms, paddy rice imports fell remarkably to $X in 2021. In general, imports continue to indicate a precipitous shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 852%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest paddy rice supplier to Kuwait, with a 69% share of total imports. Moreover, paddy rice imports from India exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sixfold. The third position in this ranking was taken by Egypt (X tons), with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume from India amounted to -22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+11.5% per year) and Egypt (-33.4% per year).

In value terms, India ($X) constituted the largest supplier of paddy rice to Kuwait, comprising 73% of total imports. The second position in the ranking was taken by Egypt ($X), with a 10% share of total imports. It was followed by the United Arab Emirates, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value from India stood at -20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (-23.5% per year) and the United Arab Emirates (+9.3% per year).

Import Prices by Country

The average paddy rice import price stood at $X per ton in 2021, growing by 27% against the previous year. In general, import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, paddy rice import price increased by +70.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 64% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Egypt ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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