Saudi Arabia: Groundnuts Market 2024

Groundnuts Market Size in Saudi Arabia

The Saudi groundnuts market fell slightly to $X in 2022, declining by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Groundnuts Production in Saudi Arabia

In value terms, groundnuts production expanded to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

In 2022, the average groundnuts yield in Saudi Arabia amounted to X tons per ha, stabilizing at the previous year's figure. Over the period under review, the yield recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the groundnuts harvested area in Saudi Arabia amounted to X ha, leveling off at 2021. In general, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the harvested area increased by X%. The groundnuts harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area stood at a somewhat lower figure.

Groundnuts Exports

Exports from Saudi Arabia

In 2022, after two years of growth, there was significant decline in shipments abroad of ground-nut (in-shell), when their volume decreased by X% to X tons. Over the period under review, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, groundnuts exports declined significantly to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for groundnuts exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, groundnuts exports to the United Arab Emirates exceeded the volume sent to the second major destination, Qatar (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (X% per year) and Bahrain (X% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for ground-nut (in-shell) exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was held by Qatar ($X), with an X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (X% per year) and Bahrain (X% per year).

Export Prices by Country

In 2021, the average groundnuts export price amounted to $X per ton, dropping by X% against the previous year. In general, the export price showed a deep setback. The pace of growth appeared the most rapid in 2018 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

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

Groundnuts Imports

Imports into Saudi Arabia

In 2022, groundnuts imports into Saudi Arabia dropped modestly to X tons, remaining constant against the year before. Overall, imports continue to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, groundnuts imports shrank to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest groundnuts supplier to Saudi Arabia, with a X% share of total imports. Moreover, groundnuts imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest.

In value terms, China ($X) and India ($X) appeared to be the largest groundnuts suppliers to Saudi Arabia.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review.

Import Prices by Country

In 2022, the average groundnuts import price amounted to $X per ton, waning by X% against the previous year. In general, import price indicated a moderate expansion 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, groundnuts import price increased by X% against 2017 indices. The growth pace was the most rapid in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then dropped in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for China stood at $X per ton.

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

Source: IndexBox Platform

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