Saudi Arabia: Groundnuts Market 2024

Groundnuts Market Size in Saudi Arabia

The Saudi groundnuts market declined modestly to $X in 2022, reducing by -1.9% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Groundnuts Production in Saudi Arabia

In value terms, groundnuts production declined to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 134%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average groundnuts yield in Saudi Arabia amounted to X tons per ha, remaining stable against 2021. In general, the yield saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 2.5%. As a result, the yield reached the peak level of X tons per ha; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of ground-nut (in-shell) production in Saudi Arabia reached X ha, stabilizing at the previous year's figure. Overall, the harvested area, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 4.9% against the previous year. The groundnuts harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area stood at a somewhat lower figure.

Groundnuts Exports

Exports from Saudi Arabia

In 2021, the amount of ground-nut (in-shell) exported from Saudi Arabia skyrocketed to X tons, growing by 177% against the previous year. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 823%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, groundnuts exports surged to $X in 2021. Over the period under review, exports showed noticeable growth. The most prominent rate of growth was recorded in 2018 when exports increased by 275%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for groundnuts exports from Saudi Arabia, accounting for a 84% share of total exports. Moreover, groundnuts exports to the United Arab Emirates exceeded the volume sent to the second major destination, Qatar (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (0.0% per year) and Bahrain (-35.2% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for ground-nut (in-shell) exports from Saudi Arabia, comprising 89% of total exports. The second position in the ranking was taken by Qatar ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to -11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (0.0% per year) and Bahrain (-44.1% per year).

Export Prices by Country

In 2021, the average groundnuts export price amounted to $X per ton, waning by -15.5% against the previous year. Over the period under review, the export price showed a abrupt shrinkage. The growth pace was the most rapid in 2018 when the average export price increased by 143%. 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 stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Qatar ($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 India (+14.9%), while the prices for the other major destinations experienced a decline.

Groundnuts Imports

Imports into Saudi Arabia

In 2022, approx. X tons of ground-nut (in-shell) were imported into Saudi Arabia; remaining constant against the previous year's figure. Overall, imports recorded a slight setback. The pace of growth was the most pronounced in 2016 when imports increased by 21% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, groundnuts imports contracted to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 33%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest groundnuts supplier to Saudi Arabia, accounting for a 63% share of total imports. Moreover, groundnuts imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest.

In value terms, the largest groundnuts suppliers to Saudi Arabia were China ($X) and India ($X).

China, with a CAGR of +4.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review.

Import Prices by Country

The average groundnuts import price stood at $X per ton in 2022, declining by -5.1% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, groundnuts import price increased by +60.8% against 2017 indices. The pace of growth was the most pronounced in 2018 an increase of 38% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then reduced in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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