Price for Food Preparations Not Elsewhere Specified or Included in Kuwait - 2022
Contents:
- Price for Food Preparations Not Elsewhere Specified or Included in Kuwait (CIF) - 2022
- Price for Food Preparations Not Elsewhere Specified or Included in Kuwait (FOB) - 2022
- Imports of Food Preparations Not Elsewhere Specified or Included in Kuwait
- Exports of Food Preparations Not Elsewhere Specified or Included in Kuwait
Price for Food Preparations Not Elsewhere Specified or Included in Kuwait (CIF) - 2022
The average import price for food preparations not elsewhere specified or included stood at $22,300 per ton in December 2022, picking up by 64% against the previous month. In general, the import price showed a buoyant expansion. The growth pace was the most rapid in January 2022 when the average import price increased by 166% against the previous month. As a result, import price attained the peak level of $25,045 per ton. From February 2022 to December 2022, the average import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In December 2022, the countries with the highest prices were Spain ($8,234 per ton) and Denmark ($8,231 per ton), while the price for Canada ($5,878 per ton) and the UK ($8,063 per ton) were amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Food Preparations Not Elsewhere Specified or Included in Kuwait (FOB) - 2022
The average export price for food preparations not elsewhere specified or included stood at $3,549 per ton in 2022, growing by 5.8% against the previous year. Over the last decade, it increased at an average annual rate of +5.8%. The pace of growth appeared the most rapid in 2013 an increase of 50% against the previous year. The export price peaked at $3,945 per ton in 2016; however, from 2017 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 Qatar ($4,845 per ton), while the average price for exports to Sweden ($149 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 Lebanon (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Food Preparations Not Elsewhere Specified or Included in Kuwait
In 2022, supplies from abroad of food preparations not elsewhere specified or included increased by 2.2% to 35K tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a noticeable slump.
In value terms, imports of food preparations not elsewhere specified or included reduced to $188M in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 4.9% against the previous year.
| Import of Food Preparations Not Elsewhere Specified or Included in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bahrain | 11.7 | 10.0 | 8.1 | 14.1 | 6.4% |
| United States | 13.9 | 12.1 | 13.8 | 12.7 | -3.0% |
| Italy | 11.7 | 10.4 | 13.0 | 12.1 | 1.1% |
| United Arab Emirates | 8.6 | 13.1 | 12.6 | 11.6 | 10.5% |
| United Kingdom | 5.3 | 5.1 | 6.9 | 7.7 | 13.3% |
| Egypt | 4.4 | 3.7 | 8.2 | 6.9 | 16.2% |
| Belgium | 10.4 | 14.5 | 10.6 | 6.5 | -14.5% |
| Netherlands | 6.1 | 8.2 | 6.0 | 6.1 | 0.0% |
| Germany | 5.2 | 4.3 | 4.6 | 5.2 | 0.0% |
| Turkey | 1.7 | 3.0 | 3.6 | 5.1 | 44.2% |
| India | 1.3 | 1.7 | 2.3 | 4.2 | 47.8% |
| Malaysia | 2.2 | 2.9 | 4.0 | 3.4 | 15.6% |
| Thailand | 1.9 | 1.6 | 1.8 | 2.4 | 8.1% |
| Others | 91.3 | 93.7 | 97.3 | 90.4 | -0.3% |
| Total | 176 | 184 | 193 | 188 | 2.2% |
Top Suppliers of Food Preparations Not Elsewhere Specified or Included to Kuwait in 2022:
- Bahrain (3.7K tons)
- Belgium (2.2K tons)
- United Arab Emirates (2.1K tons)
- Netherlands (1.7K tons)
- Italy (1.7K tons)
- Turkey (1.2K tons)
- Malaysia (1.2K tons)
- Thailand (1.1K tons)
- Egypt (1.0K tons)
- United States (1.0K tons)
- India (0.9K tons)
- United Kingdom (0.9K tons)
- Germany (0.8K tons)
Exports of Food Preparations Not Elsewhere Specified or Included in Kuwait
Exports of food preparations not elsewhere specified or included from Kuwait contracted rapidly to 944 tons in 2022, declining by -27.1% against the previous year's figure. In general, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of 77%. As a result, the exports reached the peak of 1.3K tons, and then reduced remarkably in the following year.
In value terms, exports of food preparations not elsewhere specified or included dropped sharply to $3.4M in 2022. Over the period under review, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 when exports increased by 84% against the previous year.
| Export of Food Preparations Not Elsewhere Specified or Included in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Jordan | 1,292 | 339 | 1,130 | 2,403 | 23.0% |
| Lebanon | N/A | N/A | 1.2 | 111 | 9150.0% |
| United Arab Emirates | 70.7 | 59.1 | 22.8 | 96.2 | 10.8% |
| Australia | N/A | N/A | 10.2 | 88.5 | 767.6% |
| Canada | 0.4 | 2.8 | N/A | 66.1 | 448.8% |
| Turkey | N/A | N/A | 3.2 | 29.2 | 812.5% |
| Sweden | N/A | N/A | N/A | 6.2 | 0% |
| Saudi Arabia | 2,839 | 1,894 | 3,119 | N/A | 4.8% |
| Others | 346 | 61.9 | 57.7 | 550 | 16.7% |
| Total | 4,549 | 2,356 | 4,344 | 3,350 | -9.7% |
Top Export Markets for Food Preparations Not Elsewhere Specified or Included from Kuwait in 2022:
- Jordan (613.7 tons)
- Lebanon (50.4 tons)
- Sweden (41.3 tons)
- United Arab Emirates (29.1 tons)
- Canada (28.8 tons)
- Australia (25.1 tons)
- Turkey (14.5 tons)
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