Saudi Arabia: Areca Nut Market 2022

Areca Nut Market Size in Saudi Arabia

In 2020, the Saudi areca nut market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2015 when the market value increased by X% y-o-y. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2020, consumption remained at a lower figure.

Areca Nut Exports

Exports from Saudi Arabia

Areca nut exports from Saudi Arabia soared to X tonnes in 2020, increasing by X% on the year before. Overall, exports recorded a significant increase. As a result, exports reached the peak and are likely to continue growth in the immediate term.

In value terms, areca nut exports skyrocketed to $X in 2020. Over the period under review, exports enjoyed a significant increase. As a result, exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X kg) was the main destination for areca nut exports from Saudi Arabia, with a approx. X% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of volume to Singapore was relatively modest.

From 2012 to 2020, the average annual rate of growth in terms of value to Singapore was relatively modest.

Export Prices by Country

In 2020, the average areca nut export price amounted to $X per tonne, falling by -X% against the previous year. Overall, the export price recorded a abrupt setback. The pace of growth was the most pronounced in 2016 an increase of X% y-o-y. As a result, export price reached the peak level of $X per tonne. from 2017 to 2020, the growth in terms of the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2012 to 2020, the rate of growth in terms of prices for Singapore amounted to X% per year.

Areca Nut Imports

Imports into Saudi Arabia

In 2020, supplies from abroad of areca nuts increased by X% to X tonnes, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tonnes in 2016; however, from 2017 to 2020, imports stood at a somewhat lower figure.

In value terms, areca nut imports skyrocketed to $X in 2020. In general, imports, however, recorded a noticeable reduction. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Thailand (X tonnes) was the main areca nut supplier to Saudi Arabia, with a X% share of total imports. Moreover, areca nut imports from Thailand exceeded the figures recorded by the second-largest supplier, Indonesia (X tonnes), more than tenfold.

From 2012 to 2020, the average annual rate of growth in terms of volume from Thailand amounted to +X%.

In value terms, Thailand ($X) constituted the largest supplier of areca nut to Saudi Arabia, comprising X% of total imports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of total imports.

From 2012 to 2020, the average annual growth rate of value from Thailand totaled +X%.

Import Prices by Country

The average areca nut import price stood at $X per tonne in 2020, dropping by -X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2018; however, from 2019 to 2020, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2020, the country with the highest price was Indonesia ($X per tonne), while the price for Thailand amounted to $X per tonne.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Indonesia.

Source: IndexBox Platform