Saudi Arabia: Oil Crops Market 2024

Oil Crops Market Size in Saudi Arabia

The Saudi oil crops market dropped to $X in 2022, which is down by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Oil Crops Production in Saudi Arabia

In value terms, oil crops production dropped slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of oil crops (primary) in Saudi Arabia stood at X tons per ha, approximately mirroring the year before. Overall, the yield, however, continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2020 to 2022, the growth of the average oil crops yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the oil crops harvested area in Saudi Arabia contracted to X ha, approximately equating the previous year. In general, the total harvested area indicated a mild expansion from 2012 to 2022: its figure 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, oil crops harvested area increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the harvested area dedicated to oil crops production attained the maximum at X ha in 2021, and then reduced slightly in the following year.

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Oil Crops Exports

Exports from Saudi Arabia

After two years of growth, shipments abroad of oil crops (primary) decreased by X% to X tons in 2022. Overall, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at X tons in 2021, and then declined modestly in the following year.

In value terms, oil crops exports fell to $X in 2022. In general, exports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

Bahrain (X tons) was the main destination for oil crops exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, oil crops exports to Bahrain exceeded the volume sent to the second major destination, the Netherlands (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Bahrain stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Ireland (X% per year).

In value terms, Bahrain ($X) emerged as the key foreign market for oil crops (primary) exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Bahrain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Ireland (X% per year).

Export Prices by Country

In 2022, the average oil crops export price amounted to $X per ton, falling by X% against the previous year. In general, export price indicated modest growth 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, oil crops export price increased by X% against 2014 indices. The growth pace was the most rapid in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then declined slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to the Netherlands ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into Saudi Arabia

In 2022, approx. X tons of oil crops (primary) were imported into Saudi Arabia; which is down by X% against the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, oil crops imports reduced to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

Brazil (X tons), the United States (X tons) and Argentina (X tons) were the main suppliers of oil crops imports to Saudi Arabia, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest oil crops suppliers to Saudi Arabia were Brazil ($X), the United States ($X) and Sudan ($X), together comprising X% of total imports. Argentina and Greece lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Argentina, with a CAGR of X%, 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

In 2022, the average oil crops import price amounted to $X per ton, waning by X% against the previous year. In general, the import price saw a mild reduction. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sudan ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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