GCC Potato Market Outlook

Synopsis
The above chart is GCC Potato Market Outlook (2018 to 2032)

Market Dynamics

the middle east is an increasingly important region for the global potato market, with the gulf cooperation council (gcc) being one of its main centers of activity and production. over the coming decade, attention is expected to shift significantly to the gcc due to its high population growth, rising incomes, and rising demand for potatoes from both the local and export markets. according to reports published by the united nations food and agriculture organization (fao), the gcc total potato production in 2018 was estimated to be approximately 7.8 million tons, representing a slight increase compared to 2017. it is likely that over the next 10 years, production could grow by up to 50 percent as investments in potato production and processing in the gcc increase. in terms of imports, it is likely that gcc demand for potatoes is likely to remain high, as imports from other countries continue to make up for any potential shortfalls in local production. given that europe is currently the largest source of imported potatoes for the gcc, it is likely that this pattern of imports will remain in place. in terms of exports, the gcc is expected to become increasingly important for the global potato industry, as the region is expected to become a major supplier of potatoes to global markets over the next decade. this would be largely driven by the gcc's low cost of production and advantageous geographical location. according to reports from the international trade centre (itc), gcc potato shipments abroad are expected to grow by around 175 percent over the next 10 years. overall, the gcc region looks set to be an increasingly important player in the global potato market over the coming decade. in particular, it appears that production, imports and exports are all expected to see strong growth, making it increasingly important for the global market.