Saudi Arabia: Preserved Turkey Market 2024

Preserved Turkey Market Size in Saudi Arabia

The Saudi preserved turkey market contracted dramatically to $X in 2021, with a decrease of -17.5% against the previous year. Over the period under review, consumption showed a perceptible downturn. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Preserved Turkey Production in Saudi Arabia

In value terms, preserved turkey production expanded markedly to $X in 2021 estimated in export price. In general, production, however, recorded a noticeable descent. The growth pace was the most rapid in 2017 with an increase of 56% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Preserved Turkey Exports

Exports from Saudi Arabia

Preserved turkey exports from Saudi Arabia declined notably to X tons in 2021, which is down by -83.3% against 2020. In general, exports faced a abrupt descent. The growth pace was the most rapid in 2016 when exports increased by 1,382%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, preserved turkey exports shrank sharply to $X in 2021. Overall, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 1,170% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Jordan (X tons) and Oman (X tons) were the main destinations of preserved turkey exports from Saudi Arabia, together accounting for 93% of total exports.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +42.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for prepared or preserved meat or offal of turkeys exports from Saudi Arabia, comprising 56% of total exports. The second position in the ranking was held by Jordan ($X), with a 21% share of total exports. It was followed by Oman, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates totaled -25.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+2.6% per year) and Oman (+28.9% per year).

Export Prices by Country

The average preserved turkey export price stood at $X per ton in 2021, with an increase of 21% against the previous year. In general, the export price, however, recorded a slight descent. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Oman ($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 the United Arab Emirates (+0.1%), while the prices for the other major destinations experienced a decline.

Preserved Turkey Imports

Imports into Saudi Arabia

Preserved turkey imports into Saudi Arabia dropped significantly to X tons in 2021, with a decrease of -82.7% compared with the previous year. In general, imports, however, saw a buoyant increase. The growth pace was the most rapid in 2013 with an increase of 887%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved turkey imports shrank rapidly to $X in 2021. Overall, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 1,467%. Imports peaked at $X in 2020, and then dropped rapidly in the following year.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of preserved turkey to Saudi Arabia, accounting for a 55% share of total imports. Moreover, preserved turkey imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Jordan (X tons), twofold. The third position in this ranking was taken by Denmark (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to -21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (-1.3% per year) and Denmark (-26.4% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of prepared or preserved meat or offal of turkeys to Saudi Arabia, comprising 59% of total imports. The second position in the ranking was taken by Jordan ($X), with a 26% share of total imports. It was followed by Denmark, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates amounted to -19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+5.4% per year) and Denmark (-27.2% per year).

Import Prices by Country

The average preserved turkey import price stood at $X per ton in 2021, surging by 11% against the previous year. In general, the import price recorded a resilient expansion. The pace of growth was the most pronounced in 2013 an increase of 59%. Over the period under review, average import prices reached the maximum in 2021 and is likely to continue growth in the immediate term.

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 the United Arab Emirates ($X per ton), while the price for Denmark ($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 (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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