Benelux: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in Benelux

The Benelux refined groundnut oil market fell to $X in 2022, waning by X% against the previous year. Overall, consumption, however, posted strong growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Refined Groundnut Oil Production in Benelux

In value terms, refined groundnut oil production reduced to $X in 2022 estimated in export price. Overall, production, however, saw a buoyant increase. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Refined Groundnut Oil Exports

Exports in Benelux

In 2022, shipments abroad of refined groundnut oil increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, refined groundnut oil exports soared to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Belgium represented the largest exporting country with an export of about X tons, which accounted for X% of total exports. It was distantly followed by the Netherlands (X tons), creating a X% share of total exports.

Exports from Belgium decreased at an average annual rate of X% from 2012 to 2022. The Netherlands (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands increased by X percentage points.

In value terms, Belgium ($X) remains the largest refined groundnut oil supplier in Benelux, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Belgium amounted to X%.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per ton, jumping by X% against the previous year. Export price indicated modest growth from 2012 to 2022: its price 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, refined groundnut oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%).

Refined Groundnut Oil Imports

Imports in Benelux

In 2022, the amount of refined groundnut oil imported in Benelux soared to X tons, jumping by X% against 2021. In general, imports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, refined groundnut oil imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a pronounced slump. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) represented the largest importer of refined groundnut oil, mixing up X% of total imports. Belgium (X tons) ranks second in terms of the total imports with a X% share, followed by Luxembourg (X%).

From 2012 to 2022, average annual rates of growth with regard to refined groundnut oil imports into the Netherlands stood at X%. At the same time, Luxembourg (X%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing importer imported in Benelux, with a CAGR of X% from 2012-2022. By contrast, Belgium (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Luxembourg and the Netherlands increased by X and X percentage points, respectively.

In value terms, the Netherlands ($X) constitutes the largest market for imported refined groundnut oil in Benelux, comprising X% of total imports. The second position in the ranking was taken by Belgium ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Luxembourg (X% per year).

Import Prices by Country

The import price in Benelux stood at $X per ton in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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