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Kuwait - Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingKuwait: Soybean Oil Market 2024
Soybean Oil Market Size in Kuwait
The Kuwaiti soybean oil market plummeted to $X in 2023, which is down by X% against the previous year. Over the period under review, the total consumption indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2021 indices. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.
Soybean Oil Production in Kuwait
In value terms, soybean oil production contracted dramatically to $X in 2023 estimated in export price. Over the period under review, production showed a pronounced decrease. The most prominent rate of growth was recorded in 2022 when the production volume increased by X% against the previous year. Soybean oil production peaked at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.
Soybean Oil Exports
Exports from Kuwait
In 2023, after four years of growth, there was decline in overseas shipments of soybean oil, when their volume decreased by X% to X tons. Over the period under review, exports showed a noticeable setback. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The exports peaked at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.
In value terms, soybean oil exports reduced modestly to $X in 2023. Overall, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.
Exports by Country
Saudi Arabia (X tons) was the main destination for soybean oil exports from Kuwait, accounting for a approx. X% share of total exports.
From 2012 to 2023, the average annual growth rate of volume to Saudi Arabia totaled X%.
In value terms, Saudi Arabia ($X) also remains the key foreign market for soybean oil exports from Kuwait.
From 2012 to 2023, the average annual growth rate of value to Saudi Arabia stood at X%.
Export Prices by Country
The average soybean oil export price stood at $X per ton in 2023, almost unchanged from the previous year. Overall, the export price, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, 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 Saudi Arabia.
From 2012 to 2023, the rate of growth in terms of prices for Saudi Arabia amounted to X% per year.
Soybean Oil Imports
Imports into Kuwait
Soybean oil imports into Kuwait was estimated at X tons in 2023, surging by X% on the previous year's figure. Over the period under review, total imports indicated a moderate increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.
In value terms, soybean oil imports contracted to $X in 2023. In general, imports showed a pronounced expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then reduced in the following year.
Imports by Country
In 2023, the United Arab Emirates (X tons) constituted the largest supplier of soybean oil to Kuwait, accounting for a X% share of total imports. Moreover, soybean oil imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Malaysia (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Malaysia (X% per year).
In value terms, the United Arab Emirates ($X), the United States ($X) and Malaysia ($X) were the largest soybean oil suppliers to Kuwait, together accounting for X% of total imports. Saudi Arabia, Singapore, Ukraine, Brazil, Turkey, Canada, Germany, Paraguay and Lebanon lagged somewhat behind, together comprising a further X%.
In terms of the main suppliers, Turkey, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the average soybean oil import price amounted to $X per ton, declining by X% against the previous year. In general, import price indicated a mild expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, soybean oil import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then declined in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Lebanon ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ukraine (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the soybean oil market in Kuwait. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 237 - Oil of Soybeans
Country coverage:
- Kuwait
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Kuwait
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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