GCC: Potato Market 2024

Potato Market Size in GCC

For the third consecutive year, the GCC potato market recorded growth in sales value, which increased by X% to $X in 2023. The total consumption indicated a prominent 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, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Potato Production in GCC

In value terms, potato production reached $X in 2023 estimated in export price. In general, production, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Saudi Arabia (X tons) constituted the country with the largest volume of potato production, comprising approx. X% of total volume. Moreover, potato production in Saudi Arabia exceeded the figures recorded by the second-largest producer, Kuwait (X tons), more than tenfold.

In Saudi Arabia, potato production expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Oman (X% per year).

The average potato yield declined to X tons per ha in 2023, dropping by X% on the year before. The yield figure increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the yield increased by X%. Over the period under review, the potato yield hit record highs at X tons per ha in 2022, and then declined in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The potato harvested area totaled X ha in 2023, remaining relatively unchanged against 2022 figures. The harvested area increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2014 with an increase of X%. The level of harvested area peaked at X ha in 2021; however, from 2022 to 2023, the harvested area stood at a somewhat lower figure.

Potato Exports

Exports in GCC

In 2023, exports of potatoes in GCC reduced to X tons, shrinking by X% against 2022 figures. In general, exports recorded a abrupt descent. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, potato exports reached $X in 2023. Over the period under review, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates represented the main exporter of potatoes in GCC, with the volume of exports resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by Oman (X tons), creating a X% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of the United Arab Emirates and Oman increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest potato supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates was relatively modest.

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, surging by X% against the previous year. Export price indicated a moderate increase from 2012 to 2023: its price 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, potato export price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the export prices failed to regain momentum.

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 stood at $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%).

Potato Imports

Imports in GCC

After two years of growth, supplies from abroad of potatoes decreased by X% to X tons in 2023. Total imports indicated a strong increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2022, and then declined in the following year.

In value terms, potato imports declined slightly to $X in 2023. Total imports indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of import peaked at $X in 2022, and then fell in the following year.

Imports by Country

The United Arab Emirates was the key importing country with an import of about X tons, which finished at X% of total imports. Oman (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (X%), Qatar (X%), Saudi Arabia (X%) and Bahrain (X%).

The United Arab Emirates was also the fastest-growing in terms of the potatoes imports, with a CAGR of X% from 2012 to 2023. At the same time, Oman (X%), Qatar (X%), Kuwait (X%) and Bahrain (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total imports, while Bahrain, Kuwait and Saudi Arabia saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported potatoes in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

In the United Arab Emirates, potato imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Oman (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, picking up by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform