Canada: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in Canada

The Canadian refined groundnut oil market reduced to $X in 2022, with a decrease of X% against the previous year. Overall, consumption, however, continues to indicate tangible growth. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Refined Groundnut Oil Production in Canada

In value terms, refined groundnut oil production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, recorded tangible growth. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

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Refined Groundnut Oil Exports

Exports from Canada

In 2022, after two years of growth, there was significant decline in shipments abroad of refined groundnut oil, when their volume decreased by X% to X tons. In general, exports, however, recorded a measured expansion. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank dramatically in the following year.

In value terms, refined groundnut oil exports fell markedly to $X in 2022. Over the period under review, exports, however, saw slight growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined rapidly in the following year.

Exports by Country

Hong Kong SAR (X tons) was the main destination for refined groundnut oil exports from Canada, with a X% share of total exports. Moreover, refined groundnut oil exports to Hong Kong SAR exceeded the volume sent to the second major destination, the United States (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR stood at X%.

In value terms, the largest markets for refined groundnut oil exported from Canada were the United States ($X) and Hong Kong SAR ($X).

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the average refined groundnut oil export price amounted to $X per ton, surging by X% against the previous year. Overall, the export price, however, saw a noticeable reduction. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Hong Kong SAR totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced a decline.

Refined Groundnut Oil Imports

Imports into Canada

In 2022, after two years of growth, there was significant decline in purchases abroad of refined groundnut oil, when their volume decreased by X% to X tons. In general, total imports indicated a moderate increase 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. The growth pace was the most rapid in 2018 with an increase of X%. Imports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, refined groundnut oil imports soared to $X in 2022. Overall, total imports indicated moderate 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, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest refined groundnut oil supplier to Canada, accounting for a X% share of total imports. Moreover, refined groundnut oil imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was held by Hong Kong SAR (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Hong Kong SAR (X% per year).

In value terms, the United States ($X) constituted the largest supplier of refined groundnut oil to Canada, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The average refined groundnut oil import price stood at $X per ton in 2022, 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.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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