Price for Cereal Flour; of Maize (Corn) in Kuwait - 2021

Price for Cereal Flour; of Maize (Corn) in Kuwait (CIF) - 2022

In 2022, the average import price for cereal flour; of maize (corn) amounted to $1,044 per ton, stabilizing at the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cereal flour; of maize (corn) import price decreased by -41.8% against 2017 indices. The pace of growth was the most pronounced in 2013 an increase of 44%. Over the period under review, average import prices reached the maximum at $1,792 per ton in 2017; however, from 2018 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 Pakistan ($1,942 per ton), while the price for India ($574 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cereal Flour; of Maize (Corn) in Kuwait (FOB) - 2022

In 2022, the average export price for cereal flour; of maize (corn) amounted to $189 per ton, with an increase of 6.3% against the previous year. In general, the export price, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2013 when the average export price increased by 8.7% against the previous year. The export price peaked at $1,253 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Qatar amounted to -16.3% per year.

Imports of Cereal Flour; of Maize (Corn) in Kuwait

In 2022, the amount of cereal flour; of maize (corn) imported into Kuwait reduced remarkably to 363 tons, declining by -19.6% against the previous year's figure. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +11.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 76% against the previous year. As a result, imports reached the peak of 452 tons, and then shrank rapidly in the following year.

In value terms, cereal flour; of maize (corn) imports contracted significantly to $379K in 2022. Overall, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +8.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 68% against the previous year. As a result, imports reached the peak of $476K, and then fell notably in the following year.

Import of Cereal Flour; of Maize (Corn) in Kuwait (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
France	50.8	58.6	152	131	37.1%
United States	97.2	101	150	127	9.3%
United Arab Emirates	48.7	50.8	74.3	64.2	9.6%
Saudi Arabia	30.5	24.3	31.6	25.9	-5.3%
India	12.7	13.5	27.7	7.8	-15.0%
Turkey	0.5	0.9	4.7	4.8	112.5%
Malta	35.7	N/A	6.3	N/A	-58.0%
Others	19.1	33.2	28.8	18.5	-1.1%
Total	295	283	476	379	8.7%

Top Suppliers of Cereal Flour; of Maize (Corn) to Kuwait in 2022:

United States (138.0 tons)
France (110.9 tons)
United Arab Emirates (46.6 tons)
Saudi Arabia (37.3 tons)
India (13.6 tons)
Turkey (8.2 tons)

Exports of Cereal Flour; of Maize (Corn) in Kuwait

Cereal flour; of maize (corn) exports from Kuwait expanded modestly to 17 tons in 2022, increasing by 2.6% compared with 2021. The total export volume increased at an average annual rate of +3.2% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2020 with an increase of 13%. As a result, the exports attained the peak of 17 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, cereal flour; of maize (corn) exports expanded rapidly to $3.1K in 2022. Over the period under review, exports, however, recorded a deep contraction.