Kuwait: Preserved Sweet Corn Market 2024

Preserved Sweet Corn Market Size in Kuwait

The Kuwaiti preserved sweet corn market stood at $X in 2022, with an increase of 4.3% 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 +1.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Preserved sweet corn consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Preserved Sweet Corn Exports

Exports from Kuwait

In 2022, shipments abroad of sweet corn prepared or preserved was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, faced a significant curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 424% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, preserved sweet corn exports soared to $X in 2022. In general, exports, however, recorded a significant decline. The growth pace was the most rapid in 2017 when exports increased by 387% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Qatar (X tons), Iraq (X tons) and Iran (X kg) were the main destinations of preserved sweet corn exports from Kuwait, with a combined 99% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +30.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for preserved sweet corn exported from Kuwait were Qatar ($X), Iraq ($X) and Iran ($X), together comprising 99% of total exports.

Qatar, with a CAGR of +25.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average preserved sweet corn export price stood at $X per ton in 2022, shrinking by -41.2% against the previous year. In general, the export price continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2021 an increase of 95% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (-2.0%), while the prices for the other major destinations experienced a decline.

Preserved Sweet Corn Imports

Imports into Kuwait

Preserved sweet corn imports into Kuwait expanded markedly to X tons in 2022, picking up by 5.2% compared with the year before. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 35% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, preserved sweet corn imports amounted to $X in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 29%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X tons), France (X tons) and China (X tons) were the main suppliers of preserved sweet corn imports to Kuwait, with a combined 90% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +12.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest preserved sweet corn suppliers to Kuwait were Thailand ($X), France ($X) and China ($X), together accounting for 88% of total imports. The United States, the United Arab Emirates and New Zealand lagged somewhat behind, together accounting for a further 6%.

Among the main suppliers, the United Arab Emirates, with a CAGR of +11.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average preserved sweet corn import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2019 when the average import price increased by 17% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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