Africa: Crude Groundnut Oil Market 2024

Crude Groundnut Oil Market Size in Africa

The African crude groundnut oil market was estimated at $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Crude Groundnut Oil Production in Africa

In value terms, crude groundnut oil production expanded sharply to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Crude Groundnut Oil Exports

Exports in Africa

In 2022, approx. X tons of crude groundnut oil were exported in Africa; dropping by X% against 2021 figures. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then reduced dramatically in the following year.

In value terms, crude groundnut oil exports fell sharply to $X in 2022. Over the period under review, exports, however, showed slight growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then reduced dramatically in the following year.

Exports by Country

In 2022, Senegal (X tons) represented the key exporter of crude groundnut oil, comprising X% of total exports. Nigeria (X tons) took the second position in the ranking, followed by Gambia (X tons). All these countries together took approx. X% share of total exports. Guinea (X tons) took a minor share of total exports.

Senegal experienced a relatively flat trend pattern with regard to volume of exports of crude groundnut oil. At the same time, Nigeria (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. By contrast, Gambia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest crude groundnut oil supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports. It was followed by Gambia, with an X% share.

In Senegal, crude groundnut oil exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Gambia (X% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

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

Crude Groundnut Oil Imports

Imports in Africa

In 2022, purchases abroad of crude groundnut oil was finally on the rise to reach X tons after three years of decline. In general, imports, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, crude groundnut oil imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a mild decline. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Swaziland (X tons), Comoros (X tons) and Kenya (X tons) represented the largest importer of crude groundnut oil in Africa, mixing up X% of total import. The following importers - Burkina Faso (X tons), Ghana (X tons), Zambia (X tons) and Benin (X tons) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Kenya (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Swaziland ($X), Kenya ($X) and Comoros ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

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

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain 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 Swaziland ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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