Brazil Nut Market in Saudi Arabia
Market Overview
The Saudi brazil nut market soared to $
in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate prominent growth. Over the period under review, the market hit record highs at $ in 2018; however, from 2019 to , consumption remained at a lower figure.
in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate prominent growth. Over the period under review, the market hit record highs at $ in 2018; however, from 2019 to , consumption remained at a lower figure.Consumption
In , consumption of brazil nuts increased by % to tonnes for the first time since 2008, thus ending a eleven-year declining trend. Overall, consumption, however, showed a noticeable shrinkage. Brazil nut consumption peaked at tonnes in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.
The revenue of the brazil nut market in Saudi Arabia skyrocketed to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a resilient expansion. Over the period under review, the market hit record highs at $ in 2018; however, from 2019 to , consumption failed to regain the momentum.
, consumption of brazil nuts increased by % to tonnes for the first time since 2008, thus ending a eleven-year declining trend. Overall, consumption, however, showed a noticeable shrinkage. Brazil nut consumption peaked at tonnes in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.The revenue of the brazil nut market in Saudi Arabia skyrocketed to $
in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a resilient expansion. Over the period under review, the market hit record highs at $ in 2018; however, from 2019 to , consumption failed to regain the momentum.Market Forecast
Depressed by shrinking demand for brazil nut in Saudi Arabia, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tonnes by the end of .
% for the period from to , which is projected to depress the market volume to tonnes by the end of .Trade Balance
Saudi Arabia remains a net importer of brazil nut; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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