Kuwait: Olive Oil Market 2024

Olive Oil Market Size in Kuwait

The Kuwaiti olive oil market surged to $X in 2022, picking up by X% 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). Overall, consumption recorded a strong increase. Olive oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Olive Oil Exports

Exports from Kuwait

In 2022, shipments abroad of olive oil and its fractions decreased by X% to X kg, falling for the fifth year in a row after six years of growth. In general, exports saw a noticeable descent. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, olive oil exports contracted to $X in 2022. Over the period under review, exports, however, showed slight growth. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Iraq (X kg) was the main destination for olive oil exports from Kuwait, with a X% share of total exports. Moreover, olive oil exports to Iraq exceeded the volume sent to the second major destination, Iran (X kg), twofold. The third position in this ranking was held by Qatar (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Iraq totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (X% per year) and Qatar (X% per year).

In value terms, Iraq ($X) remains the key foreign market for olive oil and its fractions exports from Kuwait, comprising X% of total exports. The second position in the ranking was taken by Iran ($X), with an X% share of total exports. It was followed by Jordan, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Iraq amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (X% per year) and Jordan (X% per year).

Export Prices by Country

The average olive oil export price stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, export price indicated a perceptible increase from 2012 to 2022: its price 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, olive oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (X%), while the prices for the other major destinations experienced mixed trend patterns.

Olive Oil Imports

Imports into Kuwait

In 2022, approx. X tons of olive oil and its fractions were imported into Kuwait; rising by X% compared with the previous year's figure. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, olive oil imports surged to $X in 2022. In general, imports enjoyed a remarkable increase. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Syrian Arab Republic (X tons) constituted the largest olive oil supplier to Kuwait, accounting for a X% share of total imports. Moreover, olive oil imports from Syrian Arab Republic exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. The third position in this ranking was held by Spain (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Syrian Arab Republic amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Spain (X% per year).

In value terms, Syrian Arab Republic ($X) constituted the largest supplier of olive oil and its fractions to Kuwait, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with a X% share of total imports. It was followed by Spain, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Syrian Arab Republic stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Spain (X% per year).

Import Prices by Country

The average olive oil import price stood at $X per ton in 2022, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 an increase of X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Palestine ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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