Global Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size

The global refined groundnut oil market declined to $X in 2022, almost unchanged from the previous year. Overall, consumption, however, continues to indicate a resilient expansion. Over the period under review, the global market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Refined Groundnut Oil Production

In value terms, refined groundnut oil production declined to $X in 2022 estimated in export price. Over the period under review, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2016 when the production volume increased by X%. Over the period under review, global production attained the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Refined Groundnut Oil Exports

Exports

In 2022, global refined groundnut oil exports reduced modestly to X tons, falling by X% against 2021 figures. In general, exports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the global exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, refined groundnut oil exports rose slightly to $X in 2022. Over the period under review, exports continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. The global exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of refined groundnut oil, namely Brazil, China and Belgium, represented more than half of total export. India (X tons) took an X% share (based on physical terms) of total exports, which put it in second place, followed by the United States (X%) and France (X%). Italy (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of X%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Brazil ($X), China ($X) and Belgium ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of global exports.

Among the main exporting countries, Brazil, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average refined groundnut oil export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The global export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other global leaders experienced more modest paces of growth.

Refined Groundnut Oil Imports

Imports

In 2022, overseas purchases of refined groundnut oil decreased by X% to X tons, falling for the fifth year in a row after three years of growth. Overall, imports showed a mild descent. The growth pace was the most rapid in 2017 when imports increased by X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of global imports failed to regain momentum.

In value terms, refined groundnut oil imports rose sharply to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, global imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Hong Kong SAR (X tons), distantly followed by the UK (X tons), Afghanistan (X tons), the Netherlands (X tons), France (X tons), Germany (X tons) and Canada (X tons) represented the largest importers of refined groundnut oil, together achieving X% of total imports. The following importers - Belgium (X tons), Malaysia (X tons), Norway (X tons), the United States (X tons), Macao SAR (X tons) and Austria (X tons) - together made up X% of total imports.

Imports into Hong Kong SAR increased at an average annual rate of X% from 2012 to 2022. At the same time, Afghanistan (X%), the UK (X%), Canada (X%) and Austria (X%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. Macao SAR experienced a relatively flat trend pattern. By contrast, Norway (X%), the United States (X%), France (X%), Germany (X%), the Netherlands (X%), Malaysia (X%) and Belgium (X%) illustrated a downward trend over the same period. Hong Kong SAR (X p.p.), Afghanistan (X p.p.), the UK (X p.p.), Macao SAR (X p.p.) and Canada (X p.p.) significantly strengthened its position in terms of the global imports, while France, Germany, the Netherlands and Belgium saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest refined groundnut oil importing markets worldwide were Hong Kong SAR ($X), Afghanistan ($X) and the UK ($X), together comprising X% of global imports.

In terms of the main importing countries, Afghanistan, 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 global leaders experienced more modest paces of growth.

Import Prices by Country

The average refined groundnut oil import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined groundnut oil import price increased by X% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Afghanistan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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