Kuwait: Beef Market 2024

Beef Market Size in Kuwait

The Kuwaiti beef market expanded modestly to $X in 2022, growing by X% against the previous year. Over the period under review, consumption posted a significant expansion. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the near future.

Beef Production in Kuwait

In value terms, beef production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Beef production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The average yield of beef (cattle meat) in Kuwait contracted slightly to X kg per head in 2022, which is down by X% on the previous year. Over the period under review, the yield indicated a notable increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, beef yield increased by X% against 2020 indices. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, the yield reached the peak level of X kg per head. From 2020 to 2022, the growth of the average beef yield remained at a lower figure.

The number of animals slaughtered for beef production in Kuwait stood at X heads in 2022, remaining constant against the previous year. This number increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the number of producing animals increased by X% against the previous year. As a result, the number of producing animals reached the peak level of X heads. From 2018 to 2022, the growth of this number remained at a somewhat lower figure.

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Beef Exports

Exports from Kuwait

In 2022, overseas shipments of beef (cattle meat) decreased by X% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, exports saw a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, beef exports declined to $X in 2022. In general, exports saw a deep contraction. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Qatar (X tons) was the main destination for beef exports from Kuwait, accounting for a X% share of total exports. Moreover, beef exports to Qatar exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fivefold. The third position in this ranking was taken by Liberia (X tons), with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Qatar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Liberia (X% per year).

In value terms, Qatar ($X) emerged as the key foreign market for beef (cattle meat) exports from Kuwait, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Liberia, with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of value to Qatar totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Liberia (X% per year).

Export Prices by Country

In 2022, the average beef export price amounted to $X per ton, with an increase of X% against the previous year. Overall, export price indicated a noticeable increase from 2013 to 2022: its price increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, beef export price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per ton) and Liberia ($X per ton), while the average price for exports to India ($X per ton) and Iraq ($X per ton) were amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into Kuwait

For the fourth consecutive year, Kuwait recorded growth in supplies from abroad of beef (cattle meat), which increased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% from 2013 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, beef imports rose to $X in 2022. Over the period under review, total imports indicated a prominent increase from 2013 to 2022: its value increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Pakistan (X tons) constituted the largest beef supplier to Kuwait, with a X% share of total imports. Moreover, beef imports from Pakistan exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by India (X tons), with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume from Pakistan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and India (X% per year).

In value terms, Pakistan ($X), the United States ($X) and Paraguay ($X) were the largest beef suppliers to Kuwait, with a combined X% share of total imports. South Africa, India, Australia and Brazil lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, South Africa, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average beef import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2013 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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