Australia and Oceania: Groundnut Oil Market 2024

Groundnut Oil Market Size in Australia and Oceania

The groundnut oil market in Australia and Oceania declined slightly to $X in 2022, with a decrease of X% against the previous year. Overall, consumption continues to indicate a perceptible shrinkage. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Groundnut Oil Production in Australia and Oceania

In value terms, groundnut oil production surged to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Groundnut Oil Exports

Exports in Australia and Oceania

In 2022, overseas shipments of groundnut oil increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a perceptible decrease. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, groundnut oil exports surged to $X in 2022. In general, exports, however, showed a pronounced reduction. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia dominates exports structure, recording X tons, which was approx. X% of total exports in 2022. Papua New Guinea (X tons) and New Zealand (X tons) followed a long way behind the leaders.

Exports from Australia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Papua New Guinea (X%) displayed positive paces of growth. Moreover, Papua New Guinea emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of X% from 2012-2022. By contrast, New Zealand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Papua New Guinea increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest groundnut oil supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was held by New Zealand ($X), with a X% share of total exports.

In Australia, groundnut oil exports shrank by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: New Zealand (X% per year) and Papua New Guinea (X% per year).

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then contracted dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the other leaders experienced a decline in the export price figures.

Groundnut Oil Imports

Imports in Australia and Oceania

In 2022, groundnut oil imports in Australia and Oceania shrank to X tons, declining by X% on the year before. Overall, imports showed a abrupt shrinkage. The growth pace was the most rapid in 2013 when imports increased by X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, groundnut oil imports surged to $X in 2022. Over the period under review, imports showed a pronounced reduction. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Australia was the key importer of groundnut oil in Australia and Oceania, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. New Zealand (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by French Polynesia (X%). New Caledonia (X tons) held a relatively small share of total imports.

Australia was also the fastest-growing in terms of the groundnut oil imports, with a CAGR of X% from 2012 to 2022. New Zealand (X%), New Caledonia (X%) and French Polynesia (X%) illustrated a downward trend over the same period. Australia (X p.p.) significantly strengthened its position in terms of the total imports, while New Caledonia, New Zealand and French Polynesia saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Australia ($X) constitutes the largest market for imported groundnut oil in Australia and Oceania, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with a X% share of total imports. It was followed by French Polynesia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and French Polynesia (X% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in New Zealand ($X per ton) and Australia ($X per ton), while French Polynesia ($X per ton) and New Caledonia ($X per ton) were 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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