Kuwait: Preserved Turkey Market 2024

Preserved Turkey Market Size in Kuwait

In 2021, after three years of growth, there was decline in the Kuwaiti preserved turkey market, when its value decreased by -1.7% to $X. In general, consumption continues to indicate a relatively flat trend pattern. Preserved turkey consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Preserved Turkey Production in Kuwait

In value terms, preserved turkey production contracted to $X in 2021 estimated in export price. In general, production, however, saw a mild decline. The pace of growth appeared the most rapid in 2020 with an increase of 13%. Preserved turkey production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Preserved Turkey Exports

Exports from Kuwait

In 2021, overseas shipments of prepared or preserved meat or offal of turkeys were finally on the rise to reach X tons after three years of decline. Overall, exports showed a significant expansion. The growth pace was the most rapid in 2015 with an increase of 1,558% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, preserved turkey exports soared to $X in 2021. In general, exports showed a prominent expansion. The pace of growth was the most pronounced in 2015 with an increase of 972%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia (X tons), Jordan (X tons) and Iraq (X tons) were the main destinations of preserved turkey exports from Kuwait, together comprising 89% of total exports.

From 2012 to 2021, the biggest increases were recorded for Jordan (with a CAGR of +94.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) emerged as the key foreign market for prepared or preserved meat or offal of turkeys exports from Kuwait, comprising 59% of total exports. The second position in the ranking was held by Jordan ($X), with a 16% share of total exports. It was followed by Iraq, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia amounted to +33.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+37.3% per year) and Iraq (+5.4% per year).

Export Prices by Country

In 2021, the average preserved turkey export price amounted to $X per ton, waning by -8.7% against the previous year. Over the period under review, the export price saw a pronounced reduction. The growth pace was the most rapid in 2020 an increase of 63%. The export price peaked at $X per ton in 2013; however, from 2014 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 Saudi Arabia ($X per ton), while the average price for exports to Iraq ($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 (+0.1%), while the prices for the other major destinations experienced a decline.

Preserved Turkey Imports

Imports into Kuwait

In 2021, the amount of prepared or preserved meat or offal of turkeys imported into Kuwait skyrocketed to X tons, rising by 21% compared with 2020 figures. Overall, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 104% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, preserved turkey imports expanded rapidly to $X in 2021. In general, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 120%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Brazil (X tons) constituted the largest preserved turkey supplier to Kuwait, with a 64% share of total imports. Moreover, preserved turkey imports from Brazil exceeded the figures recorded by the second-largest supplier, the United States (X tons), eightfold. Turkey (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil amounted to +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-7.6% per year) and Turkey (+0.5% per year).

In value terms, Brazil ($X) constituted the largest supplier of prepared or preserved meat or offal of turkeys to Kuwait, comprising 38% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by Belgium, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Brazil totaled +23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.8% per year) and Belgium (+68.1% per year).

Import Prices by Country

The average preserved turkey import price stood at $X per ton in 2021, shrinking by -5.9% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 22% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat 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 Belgium ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :