The production of alfalfa was 1,424,205.5 metric ton in 2017 and is expected to register a CAGR of 5.5% during the forecast period (2019-2024). Currently, there are no imports of alfalfa into the country. However, the country imports the seeds for cultivating alfalfa from countries, such as Australia, United States, and UAE.
Scope of the Report
The scope of the report includes the production consumption, import, export analysis in terms of both volume and value. The demand for alfalfa is on the rise all around the world, and especially in Saudi Arabia and other GCC countries. This high demand has prompted entrepreneurs, both local and foreign, to grow the crop on a large scale in several parts of the country.
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Key Market Trends
Rise in Prices Driving the Market
The prices in Sudan are on the rise, however, this is restricted to Sudan. Forex rate has also to play a major role in this. The overall prices are relatively stable or are falling. Factors that tend to dampen the alfalfa hay market include – large inventories of feeder hay-dry cow hay, in case of Idaho and Washington State. The Saudi imports of alfalfa hay are likely to increase, the additional 825,000 metric ton of projected imports are expected to be worth roughly USD 250 million per year at 2016 prices. The import subsidy for alfalfa hay is currently USD 59 per metric ton, all of this is likely to improve the export scenario for Sudan and is likely to be profitable for the companies engaged in alfalfa production.
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Increasing Production with in the Country
The production of alfalfa in Sudan is showcasing a consistently increasing trend since 2012. One of the main reasons being the increasing investments in the country by various foreign firms, especially from the GCC countries. Khartoum is one of the major state in Sudan, with a share of more than 50% of total forage crops cultivation in the country. UAE based companies, such as Amtaar Investment and GLB, started investing in Sudanese land toward forage production from 2011, and the companies are widely adopting centralized pivots toward increasing productivity through improvement in water usage efficiency.
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Table Of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 Market Size (USD million)
5.2 Domestic Production Overview
5.3 Consumption Analysis and Market Value
5.4 Import Market Analysis (Volume and Value)
5.5 Export Market Analysis (Volume and Value)
5.6 Price Trend Analysis
6. PROCUREMENT REFERENCE MATRIX
7. MARKET OPPORTUNITIES AND FUTURE TRENDS