Australia and Oceania: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in Australia and Oceania

The refined groundnut oil market in Australia and Oceania rose sharply to $X in 2022, surging by X% against the previous year. In general, consumption enjoyed a perceptible expansion. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Refined Groundnut Oil Production in Australia and Oceania

In value terms, refined groundnut oil production rose markedly to $X in 2022 estimated in export price. In general, production recorded notable growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

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Refined Groundnut Oil Exports

Exports in Australia and Oceania

In 2022, overseas shipments of refined groundnut oil increased by X% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports continue to indicate mild growth. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, refined groundnut oil exports surged to $X in 2022. In general, exports, however, saw a mild slump. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. 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, finishing at X tons, which was near X% of total exports in 2022. The following exporters - Papua New Guinea (X tons) and New Zealand (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to refined groundnut oil exports from Australia stood at X%. 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 ($X) remains the largest refined groundnut oil supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Australia amounted to X%. In the other countries, the average annual rates were as follows: New Zealand (X% per year) and Papua New Guinea (X% per year).

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price continues to indicate a noticeable contraction. The growth pace was the most rapid in 2016 an increase of X%. The level of export peaked at $X per ton in 2020; however, from 2021 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 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.

Refined Groundnut Oil Imports

Imports in Australia and Oceania

In 2022, overseas purchases of refined groundnut oil increased by X% to X tons for the first time since 2016, thus ending a five-year declining trend. Overall, imports, however, recorded a abrupt curtailment. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, refined groundnut oil imports soared to $X in 2022. Over the period under review, imports, however, recorded a abrupt descent. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) was the major importer of refined groundnut oil, mixing up X% of total imports. New Zealand (X tons) held the second position in the ranking, distantly followed by French Polynesia (X tons). All these countries together took near X% share of total imports. New Caledonia (X tons) followed a long way behind the leaders.

Australia was also the fastest-growing in terms of the refined 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.) and New Zealand (X p.p.) significantly strengthened its position in terms of the total imports, while New Caledonia and French Polynesia saw its share reduced by X% and X% from 2012 to 2022, respectively.

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

In Australia, refined groundnut oil imports remained relatively stable over the period from 2012-2022. 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, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, import prices attained the peak figure in 2022 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 ($X per ton) and New Caledonia ($X per ton), while French Polynesia ($X per ton) and Australia ($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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