Groundnut Oil Market - Argentina’s Ground-Nut Oil Exports Surged 33% in 2014
Vegetable And Animal Oils And Fats September 30, 2015
Argentina dominates in the global ground-nut oil trade. In 2014, Argentina exported 83 thousand tonnes of ground-nut oil totaling 88 million USD, 33% over the previous year. Its primary trading partner on the global groundnut oil market was China, where it supplied 65% of its total ground-nut oil exports in value terms, accounting for 53% of China's total imports.
Overall, the global ground-nut oil trade reached 318 million USD, with a CAGR of 3% from 2007 to 2014. In physical terms, it grew from 207 thousand tonnes in 2007 to 235 thousand tonnes in 2014.
In 2014, China (37%), Italy (18%), Belgium (10%), France (8%) and the U.S. (7%) were the leading destinations of ground-nut oil imports, together making up 78% of global imports. The share of China increased significantly (+31 percentage points), while the share of France illustrated negative dynamics (-16 percentage points).
Brazil and Senegal were among the other main global suppliers of ground-nut oil in 2014 with a combined share of 28% of global exports. However, the fastest growing exporters from 2007 to 2014 were Brazil (+23% per year) and the Netherlands (+22% per year). Brazil significantly strengthened its position in the global export structure, from 4% in 2007 to 15% in 2014.
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Source: World: Ground-Nut Oil - Market Report. Analysis And Forecast To 2020
