Saudi Arabia: Apricot Market Overview 2021

Apricot Market Size in Saudi Arabia

The Saudi apricot market soared to $X in 2019, with an increase of 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 continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2009 when the market value increased by X% against the previous year. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2019, consumption remained at a lower figure.

Apricot Exports

Exports from Saudi Arabia

In 2019, shipments abroad of apricots decreased by -X% to X tonnes, falling for the fourth year in a row after five years of growth. Overall, exports, however, saw a modest expansion. The pace of growth was the most pronounced in 2015 with an increase of X% year-to-year. As a result, exports reached the peak of X tonnes. From 2016 to 2019, the growth exports remained at a lower figure.

In value terms, apricot exports shrank to $X in 2019. In general, exports, however, saw a temperate expansion. The growth pace was the most rapid in 2015 when exports increased by X% y-o-y. As a result, exports reached the peak of $X. From 2016 to 2019, the growth exports remained at a somewhat lower figure.

Exports by Country

Qatar (X tonnes) was the main destination for apricot exports from Saudi Arabia, with a X% share of total exports. Moreover, apricot exports to Qatar exceeded the volume sent to the second major destination, Kuwait (X tonnes), sevenfold. Bahrain (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Qatar amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-X% per year) and Bahrain (+X% per year).

In value terms, Qatar ($X) emerged as the key foreign market for apricot exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was occupied by Kuwait ($X), with a X% share of total exports. It was followed by Bahrain, with a X% share.

From 2007 to 2019, the average annual growth rate of value to Qatar amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-X% per year) and Bahrain (+X% per year).

Export Prices by Country

The average apricot export price stood at $X per tonne in 2019, dropping by -X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 when the average export price increased by X% against the previous year. Over the period under review, average export prices attained the maximum at $X per tonne in 2013; however, from 2014 to 2019, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was the United Arab Emirates ($X per tonne), while the average price for exports to Qatar ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates, while the prices for the other major destinations experienced more modest paces of growth.

Apricot Imports

Imports into Saudi Arabia

In 2019, the amount of apricots imported into Saudi Arabia expanded remarkably to X tonnes, surging by X% on 2018 figures. In general, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. As a result, imports reached the peak of X tonnes. From 2018 to 2019, the growth imports remained at a lower figure.

In value terms, apricot imports surged to $X in 2019. Overall, imports recorded a resilient expansion. The pace of growth was the most pronounced in 2009 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, Jordan (X tonnes) constituted the largest apricot supplier to Saudi Arabia, accounting for a X% share of total imports. Moreover, apricot imports from Jordan exceeded the figures recorded by the second-largest supplier, Turkey (X tonnes), twofold. South Africa (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Jordan totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+X% per year) and South Africa (+X% per year).

In value terms, the largest apricot suppliers to Saudi Arabia were Jordan ($X), South Africa ($X) and Turkey ($X), together accounting for X% of total imports.

Among the main suppliers, Turkey saw the highest growth rate of 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 apricot import price stood at $X per tonne in 2019, rising by X% against the previous year. Over the period under review, import price indicated a mild expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, apricot import price increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2018 an increase of X% year-to-year. The import price peaked in 2019 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was South Africa ($X per tonne), while the price for Syrian Arab Republic ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Lebanon, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for apricots in the world?

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The countries with the highest volumes of apricot consumption in 2019 were Turkey (813K tonnes), Uzbekistan (479K tonnes) and Iran (329K tonnes), with a combined 39% share of global consumption.

What are the largest producers of apricots in the world?

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The countries with the highest volumes of apricot production in 2019 were Turkey (847K tonnes), Uzbekistan (537K tonnes) and Iran (330K tonnes), together accounting for 41% of global production.

What are the leading suppliers of apricots to Saudi Arabia?

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In value terms, the largest apricot suppliers to Saudi Arabia were Jordan ($4.6M), South Africa ($3.1M) and Turkey ($2M), with a combined 83% share of total imports.

What are the leading importers of apricots from Saudi Arabia?

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In value terms, Qatar ($99K) emerged as the key foreign market for apricot exports from Saudi Arabia, comprising 61% of total exports. The second position in the ranking was occupied by Kuwait ($21K), with a 13% share of total exports. It was followed by Bahrain, with a 9.9% share.

What is the average export price for apricots in Saudi Arabia?

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The average apricot export price stood at $798 per tonne in 2019, declining by -5.7% against the previous year.

What is the average import price for apricots in Saudi Arabia?

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In 2019, the average apricot import price amounted to $1,257 per tonne, surging by 4% against the previous year.