Asia-Pacific: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in Asia-Pacific

The Asia-Pacific refined groundnut oil market was estimated at $X in 2022, picking up by X% against the previous year. The total consumption indicated a remarkable 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, consumption increased by X% against 2019 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Refined Groundnut Oil Production in Asia-Pacific

In value terms, refined groundnut oil production reached $X in 2022 estimated in export price. The total production indicated buoyant growth 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% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Refined Groundnut Oil Exports

Exports in Asia-Pacific

In 2022, shipments abroad of refined groundnut oil decreased by X% to X tons, falling for the second year in a row after five years of growth. Overall, exports continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refined groundnut oil exports dropped dramatically to $X in 2022. Over the period under review, exports recorded a deep slump. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, China (X tons) represented the largest exporter of refined groundnut oil, achieving X% of total exports. It was distantly followed by India (X tons) and Hong Kong SAR (X tons), together creating a X% share of total exports. Malaysia (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to refined groundnut oil exports from China stood at X%. At the same time, Malaysia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) and India (X%) illustrated a downward trend over the same period. China (X p.p.), Malaysia (X p.p.) and Hong Kong SAR (X p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest refined groundnut oil supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China was relatively modest. In the other countries, the average annual rates were as follows: India (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

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

Refined Groundnut Oil Imports

Imports in Asia-Pacific

In 2022, imports of refined groundnut oil in Asia-Pacific expanded rapidly to X tons, surging by X% on the previous year's figure. Total imports indicated strong growth from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, refined groundnut oil imports reached $X in 2022. Over the period under review, imports posted a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Hong Kong SAR was the main importing country with an import of about X tons, which accounted for X% of total imports. Afghanistan (X tons) ranks second in terms of the total imports with a X% share, followed by Malaysia (X%) and Macao SAR (X%). The following importers - Singapore (X tons), Australia (X tons) and Vietnam (X tons) - each accounted for a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to refined groundnut oil imports into Hong Kong SAR stood at X%. At the same time, Vietnam (X%) and Afghanistan (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Macao SAR experienced a relatively flat trend pattern. By contrast, Singapore (X%), Australia (X%) and Malaysia (X%) illustrated a downward trend over the same period. Afghanistan (X p.p.), Hong Kong SAR (X p.p.), Macao SAR (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Australia and Malaysia saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, the largest refined groundnut oil importing markets in Asia-Pacific were Hong Kong SAR ($X), Afghanistan ($X) and Malaysia ($X), with a combined X% share of total imports. Macao SAR, Australia, Singapore and Vietnam lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Vietnam, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the import price in Asia-Pacific amounted to $X per ton, leveling off at the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: 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 Australia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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