Kuwait: Cow Peas Market 2023

Cow Peas Market Size in Kuwait

The Kuwaiti cow peas market shrank to $X in 2021, waning by -14.4% 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). Over the period under review, consumption, however, saw a remarkable increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Cow Peas Exports

Exports from Kuwait

In 2021, cow peas exports from Kuwait reached X tons, growing by 2.9% compared with the previous year. Over the period under review, exports saw a tangible increase. The pace of growth appeared the most rapid in 2017 when exports increased by 495% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, cow peas exports shrank modestly to $X in 2021. In general, exports, however, continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2017 when exports increased by 960%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bahrain (X tons) was the main destination for cow peas exports from Kuwait, with a 94% share of total exports. Moreover, cow peas exports to Bahrain exceeded the volume sent to the second major destination, Iran (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Bahrain amounted to +48.2%.

In value terms, Bahrain ($X) remains the key foreign market for cow peas exports from Kuwait, comprising 94% of total exports. The second position in the ranking was held by Iran ($X), with a 5.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Bahrain stood at +37.3%.

Export Prices by Country

In 2021, the average cow peas export price amounted to $X per ton, falling by -5.2% against the previous year. Over the period under review, the export price recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 78%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, the country with the highest price was Iran ($X per ton), while the average price for exports to Bahrain stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+16.3%), while the prices for the other major destinations experienced a decline.

Cow Peas Imports

Imports into Kuwait

In 2021, the amount of cow peas (dry) imported into Kuwait shrank sharply to X tons, declining by -22.1% on 2020. Overall, imports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 503% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, cow peas imports declined to $X in 2021. Over the period under review, imports, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 462% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest cow peas supplier to Kuwait, accounting for a 65% share of total imports. Moreover, cow peas imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the United States (X tons), ninefold. The third position in this ranking was held by Myanmar (X tons), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates totaled +42.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+21.4% per year) and Myanmar (+1.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of cow peas to Kuwait, comprising 67% of total imports. The second position in the ranking was taken by Italy ($X), with a 4.2% share of total imports. It was followed by Peru, with a 4% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates stood at +55.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+74.8% per year) and Peru (+7.9% per year).

Import Prices by Country

The average cow peas import price stood at $X per ton in 2021, with an increase of 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2015 when the average import price increased by 25%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Peru ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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