Kuwait: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in Kuwait

In 2022, the Kuwaiti fresh beef carcase market decreased by X% to $X, falling for the fifth year in a row after six years of growth. In general, consumption, however, saw buoyant growth. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Fresh Beef Carcase Production in Kuwait

In value terms, fresh beef carcase production fell to $X in 2022 estimated in export price. Overall, production showed a deep downturn. The growth pace was the most rapid in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Fresh Beef Carcase Exports

Exports from Kuwait

In 2021, shipments abroad of fresh or chilled carcases of beef and veal decreased by X% to X tons, falling for the second consecutive year after two years of decline. Overall, exports showed measured growth. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, fresh beef carcase exports totaled $X in 2021. In general, exports posted a temperate expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Bahrain (X tons) was the main destination for fresh beef carcase exports from Kuwait, with a X% share of total exports. Moreover, fresh beef carcase exports to Bahrain exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), fourfold.

From 2014 to 2021, the average annual growth rate of volume to Bahrain stood at X%.

In value terms, the largest markets for fresh beef carcase exported from Kuwait were the United Arab Emirates ($X) and Bahrain ($X).

The United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average fresh beef carcase export price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the export price showed a slight reduction. The most prominent rate of growth was recorded in 2015 when the average export price decreased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Bahrain totaled $X per ton.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (X%).

Fresh Beef Carcase Imports

Imports into Kuwait

In 2022, supplies from abroad of fresh or chilled carcases of beef and veal was finally on the rise to reach X tons after two years of decline. Over the period under review, total imports indicated a buoyant increase from 2013 to 2022: its volume 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, imports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by X%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, fresh beef carcase imports reduced sharply to $X in 2022. In general, imports saw a buoyant increase. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Pakistan (X tons) constituted the largest supplier of fresh beef carcase to Kuwait, with a X% share of total imports. Moreover, fresh beef carcase imports from Pakistan exceeded the figures recorded by the second-largest supplier, Sudan (X tons), more than tenfold. The third position in this ranking was taken by Australia (X tons), with a X% share.

From 2013 to 2022, the average annual growth rate of volume from Pakistan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sudan (X% per year) and Australia (X% per year).

In value terms, Pakistan ($X) constituted the largest supplier of fresh or chilled carcases of beef and veal to Kuwait, comprising X% of total imports. The second position in the ranking was taken by Sudan ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2013 to 2022, the average annual growth rate of value from Pakistan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sudan (X% per year) and Australia (X% per year).

Import Prices by Country

The average fresh beef carcase import price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the last nine years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X%. The import price peaked at $X per ton in 2021, and then dropped significantly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Australia ($X per ton) and Sudan ($X per ton), while the price for India ($X per ton) and Tanzania ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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