Kuwait: Potato Starch Market 2024

Potato Starch Market Size in Kuwait

The Kuwaiti potato starch market expanded rapidly to $X in 2021, rising by 14% against the previous year. Overall, the total consumption indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -20.4% against 2017 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Potato Starch Production in Kuwait

In value terms, potato starch production skyrocketed to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 65%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Potato Starch Exports

Exports from Kuwait

In 2021, exports of potato starch from Kuwait soared to X tons, growing by 88% on 2020 figures. In general, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by 559%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, potato starch exports surged to $X in 2021. Overall, exports, however, showed a pronounced contraction. The growth pace was the most rapid in 2020 with an increase of 314% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for potato starch exports from Kuwait, accounting for a 76% share of total exports. Moreover, potato starch exports to the United Arab Emirates exceeded the volume sent to the second major destination, Bahrain (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates totaled +38.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+2.0% per year) and Qatar (-23.8% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for potato starch exports from Kuwait, comprising 65% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+0.3% per year) and Qatar (-26.2% per year).

Export Prices by Country

In 2021, the average potato starch export price amounted to $X per ton, with a decrease of -6.4% against the previous year. Over the period under review, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by 60%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to the United Arab Emirates ($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 Bahrain (-1.6%), while the prices for the other major destinations experienced a decline.

Potato Starch Imports

Imports into Kuwait

In 2021, imports of potato starch into Kuwait plummeted to X tons, which is down by -28.4% compared with the year before. Over the period under review, imports, however, showed a strong increase. The growth pace was the most rapid in 2013 when imports increased by 545%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, potato starch imports declined rapidly to $X in 2021. In general, imports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2013 when imports increased by 721% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Denmark (X tons) constituted the largest potato starch supplier to Kuwait, with a 43% share of total imports. Moreover, potato starch imports from Denmark exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), fivefold. The Netherlands (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2021, the average annual growth rate of volume from Denmark stood at +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+18.8% per year) and the Netherlands (-0.5% per year).

In value terms, Denmark ($X) constituted the largest supplier of potato starch to Kuwait, comprising 29% of total imports. The second position in the ranking was taken by Singapore ($X), with a 10% share of total imports. It was followed by Saudi Arabia, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Denmark stood at +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+57.1% per year) and Saudi Arabia (+24.0% per year).

Import Prices by Country

In 2021, the average potato starch import price amounted to $X per ton, surging by 2.6% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, potato starch import price decreased by -6.0% against 2019 indices. The pace of growth appeared the most rapid in 2019 an increase of 37%. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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