Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Kuwait - 2022

Contents:

1. Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Kuwait (CIF) - 2022
2. Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Kuwait (FOB) - 2022
3. Imports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Kuwait
4. Exports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Kuwait

Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Kuwait (CIF) - 2022

The average import price for crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds stood at $9,972 per ton in December 2022, dropping by -12.2% against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 when the average import price increased by 46% month-to-month. Over the period under review, average import prices reached the peak figure at $13,784 per ton in May 2022; however, from June 2022 to December 2022, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Iran ($11,001 per ton), while the price for Turkey ($5,379 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Iran (+22.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Kuwait (FOB) - 2022

In 2022, the average export price for crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds amounted to $11,464 per ton, increasing by 23% against the previous year. In general, the export price, however, continues to indicate a mild setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by 85%. Over the period under review, the average export prices attained the peak figure at $13,827 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Jordan ($37,845 per ton), while the average price for exports to Saudi Arabia ($1,123 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 the United Arab Emirates (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Kuwait

In 2022, purchases abroad of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds decreased by -7.2% to 472 tons, falling for the second year in a row after two years of growth. In general, imports, however, continue to indicate a perceptible increase. The pace of growth appeared the most rapid in 2020 with an increase of 92% against the previous year. As a result, imports reached the peak of 795 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds fell to $4.4M in 2022. Overall, imports, however, posted a tangible expansion. The growth pace was the most rapid in 2020 when imports increased by 83% against the previous year. As a result, imports attained the peak of $7.5M. From 2021 to 2022, the growth of imports of failed to regain momentum.

Top Suppliers of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved to Kuwait in 2022:

1. Vietnam (108.3 tons)
2. United Arab Emirates (79.7 tons)
3. Turkey (71.6 tons)
4. Canada (43.0 tons)
5. Philippines (39.4 tons)
6. Iran (26.0 tons)
7. India (23.6 tons)
8. Japan (20.2 tons)
9. Saudi Arabia (16.2 tons)
10. New Zealand (11.1 tons)
11. Myanmar (1.5 tons)

Exports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Kuwait

In 2022, approx. 40 tons of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds were exported from Kuwait; picking up by 11% against 2021. Overall, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +17.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.3% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by 22% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, exports of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds soared to $463K in 2022. In general, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +15.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.3% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved from Kuwait in 2022:

1. Saudi Arabia (23.8 tons)
2. Qatar (9.4 tons)
3. Bahrain (2.9 tons)
4. United Arab Emirates (2.6 tons)
5. Iraq (1.4 tons)

Source: IndexBox Market Intelligence Platform