Oman: Frozen Potato Market 2024

Frozen Potato Market Size in Oman

The Omani frozen potato market expanded significantly to $X in 2021, increasing by 6.1% 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, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.6% 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 increased by +77.8% against 2015 indices. Frozen potato consumption peaked in 2021 and is expected to retain growth in years to come.

Frozen Potato Exports

Exports from Oman

After three years of growth, overseas shipments of frozen potatoes decreased by -34.6% to X tons in 2021. Over the period under review, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2013 with an increase of 598% against the previous year. The exports peaked at X tons in 2020, and then fell significantly in the following year.

In value terms, frozen potato exports declined markedly to $X in 2021. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 514%. As a result, the exports reached the peak of $X, and then reduced remarkably in the following year.

Exports by Country

Yemen (X tons) was the main destination for frozen potato exports from Oman, accounting for a 61% share of total exports. Moreover, frozen potato exports to Yemen exceeded the volume sent to the second major destination, Kuwait (X tons), sevenfold. The third position in this ranking was held by Bahrain (X tons), with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume to Yemen totaled +38.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+56.8% per year) and Bahrain (+17.0% per year).

In value terms, Yemen ($X) emerged as the key foreign market for frozen potatoes exports from Oman, comprising 40% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 7.9% share of total exports. It was followed by the United Arab Emirates, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value to Yemen amounted to +26.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (0.0% per year) and the United Arab Emirates (+24.6% per year).

Export Prices by Country

In 2021, the average frozen potato export price amounted to $X per ton, dropping by -38% against the previous year. In general, the export price, however, enjoyed a mild increase. The pace of growth appeared the most rapid in 2014 an increase of 92% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Saudi Arabia ($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 Saudi Arabia (+13.9%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Potato Imports

Imports into Oman

For the sixth year in a row, Oman recorded growth in supplies from abroad of frozen potatoes, which increased by 6.5% to X tons in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +82.0% against 2015 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 18% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, frozen potato imports rose remarkably to $X in 2021. Overall, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.9% against 2013 indices. The pace of growth was the most pronounced in 2016 with an increase of 23% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

The United Arab Emirates (X tons), Belgium (X tons) and Egypt (X tons) were the main suppliers of frozen potato imports to Oman, together accounting for 51% of total imports. The Netherlands, Germany, Iran, Austria, France, the United States and Saudi Arabia lagged somewhat behind, together comprising a further 9.7%.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +32.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Belgium ($X) and Egypt ($X) were the largest frozen potato suppliers to Oman, together accounting for 54% of total imports. The Netherlands, Germany, Austria, Iran, France, the United States and Saudi Arabia lagged somewhat behind, together accounting for a further 9%.

In terms of the main suppliers, Iran, with a CAGR of +28.9%, saw the highest growth rate of 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

The average frozen potato import price stood at $X per ton in 2021, approximately mirroring the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2015 an increase of 11% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+28.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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