Kuwait: Carob Market 2023

Carob Market Size in Kuwait

The Kuwaiti carob market reduced markedly to $X in 2022, waning by -23.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, enjoyed resilient growth. Carob consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Carob Imports

Imports into Kuwait

In 2022, imports of carob into Kuwait reduced sharply to X tons, with a decrease of -27.3% against 2021. Over the period under review, imports, however, showed a temperate increase. The most prominent rate of growth was recorded in 2016 with an increase of 258%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, carob imports shrank remarkably to $X in 2022. In general, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2016 when imports increased by 382%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Egypt (X tons) constituted the largest carob supplier to Kuwait, accounting for a 78% share of total imports. Moreover, carob imports from Egypt exceeded the figures recorded by the second-largest supplier, Lebanon (X kg), fivefold. The third position in this ranking was taken by Turkey (X kg), with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Egypt totaled +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Lebanon (+0.3% per year) and Turkey (-18.6% per year).

In value terms, Egypt ($X) constituted the largest supplier of carob to Kuwait, comprising 85% of total imports. The second position in the ranking was taken by Lebanon ($X), with a 7.3% share of total imports. It was followed by Turkey, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Egypt amounted to +27.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Lebanon (+0.3% per year) and Turkey (-16.7% per year).

Import Prices by Country

The average carob import price stood at $X per ton in 2022, surging by 6.4% against the previous year. Over the period under review, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carob import price decreased by -13.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 38% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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 Jordan ($X per ton), while the price for Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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