Shrimp Price in Kuwait - 2021
Contents:
- Shrimp Price in Kuwait (CIF) - 2021
- Shrimp Price in Kuwait (FOB) - 2022
- Shrimp Imports in Kuwait
- Shrimp Exports in Kuwait
Shrimp Price in Kuwait (CIF) - 2021
In December 2021, the average shrimp import price amounted to $7,304 per ton, jumping by 20% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $8,302 per ton in May 2021; however, from June 2021 to December 2021, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2021, the country with the highest price was Pakistan ($18,105 per ton), while the price for Iran ($3,533 per ton) was amongst the lowest.
From January 2021 to December 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in Kuwait (FOB) - 2022
In 2022, the average shrimp export price amounted to $11,574 per ton, falling by -6.6% against the previous year. Over the period from 2013 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2019 an increase of 22%. The export price peaked at $12,393 per ton in 2021, and then dropped in the following year.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($13,002 per ton), while the average price for exports to Qatar stood at $11,467 per ton.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in Kuwait
In 2022, purchases abroad of shrimps decreased by -45.1% to 4.8K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports showed a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. As a result, imports reached the peak of 8.8K tons, and then dropped rapidly in the following year.
In value terms, shrimp imports contracted rapidly to $32M in 2022. Over the period under review, imports showed a deep reduction. The pace of growth was the most pronounced in 2021 when imports increased by 25% against the previous year. As a result, imports reached the peak of $62M, and then contracted remarkably in the following year.
| Import of Shrimp in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 15.3 | 20.6 | 31.2 | 15.1 | -0.4% |
| United Arab Emirates | 11.1 | 12.0 | 10.1 | 5.5 | -20.9% |
| Pakistan | 7.9 | 4.0 | 8.3 | 4.5 | -17.1% |
| Iran | 3.9 | 4.1 | 4.5 | 2.5 | -13.8% |
| Saudi Arabia | 4.5 | 2.1 | 2.7 | 1.5 | -30.7% |
| Vietnam | 1.4 | 2.6 | 1.4 | 0.9 | -13.7% |
| Others | 3.0 | 4.2 | 4.1 | 2.0 | -12.6% |
| Total | 47.0 | 49.7 | 62.4 | 31.9 | -12.1% |
Top Suppliers of Shrimp to Kuwait in 2022:
- India (2467.5 tons)
- United Arab Emirates (756.6 tons)
- Iran (547.9 tons)
- Pakistan (423.4 tons)
- Saudi Arabia (296.3 tons)
- Vietnam (77.7 tons)
Shrimp Exports in Kuwait
In 2022, the amount of shrimps exported from Kuwait surged to 108 tons, picking up by 71% against the previous year. In general, exports continue to indicate temperate growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, shrimp exports soared to $1.2M in 2022. Over the period under review, exports saw a mild increase. The most prominent rate of growth was recorded in 2021 with an increase of 61%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.
| Export of Shrimp in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Qatar | 1,170 | 465 | 628 | 1,148 | -0.6% |
| Bahrain | 3.8 | 18.6 | 69.2 | 97.4 | 194.8% |
| Others | 4.1 | N/A | 83.1 | N/A | 350.2% |
| Total | 1,178 | 483 | 780 | 1,245 | 1.9% |
Top Export Markets for Shrimp from Kuwait in 2022:
- Qatar (100.1 tons)
- Bahrain (7.5 tons)
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