GCC: Market for Lucerne (Alfalfa) Meal And Pellets 2024

Market Size for Lucerne (Alfalfa) Meal And Pellets in GCC

In 2023, the GCC lucerne meal and pellets market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. Over the period under review, consumption continues to indicate a perceptible slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Production of Lucerne (Alfalfa) Meal And Pellets in GCC

In value terms, lucerne meal and pellets production amounted to $X in 2023 estimated in export price. Overall, production recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports in GCC

In 2023, exports of lucerne (alfalfa) meal and pellets in GCC stood at X tons, surging by X% compared with the previous year's figure. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, lucerne meal and pellets exports fell to $X in 2023. Overall, exports, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Oman prevails in exports structure, accounting for X tons, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X tons), committing a X% share of total exports.

Exports from Oman decreased at an average annual rate of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Oman saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Oman ($X) remains the largest lucerne meal and pellets supplier in GCC, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Oman amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price saw a slight contraction. The pace of growth appeared the most rapid in 2022 when the export price increased by X%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2023, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports in GCC

In 2023, supplies from abroad of lucerne (alfalfa) meal and pellets was finally on the rise to reach X tons after two years of decline. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, lucerne meal and pellets imports rose significantly to $X in 2023. Total imports indicated a modest expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, the United Arab Emirates (X tons) represented the main importer of lucerne (alfalfa) meal and pellets, creating X% of total imports. Saudi Arabia (X tons) took the second position in the ranking, distantly followed by Qatar (X tons) and Oman (X tons). All these countries together took near X% share of total imports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported lucerne (alfalfa) meal and pellets in GCC, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

In the United Arab Emirates, lucerne meal and pellets imports declined by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Qatar (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, with a decrease of X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2023, import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform