Czech Republic: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in the Czech Republic

The Czech refined groundnut oil market was estimated at $X in 2022, rising by X% against the previous year. Overall, consumption, however, recorded prominent growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Refined Groundnut Oil Production in the Czech Republic

In value terms, refined groundnut oil production rose slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Refined groundnut oil production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

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Refined Groundnut Oil Exports

Exports from the Czech Republic

In 2022, shipments abroad of refined groundnut oil increased by X% to X tons, rising for the second year in a row after seven years of decline. In general, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, refined groundnut oil exports skyrocketed to $X in 2022. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Denmark (X tons) was the main destination for refined groundnut oil exports from the Czech Republic, with a X% share of total exports. Moreover, refined groundnut oil exports to Denmark exceeded the volume sent to the second major destination, Belgium (X kg), twofold. The third position in this ranking was held by Slovakia (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Denmark totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Slovakia (X% per year).

In value terms, the largest markets for refined groundnut oil exported from the Czech Republic were Denmark ($X), Belgium ($X) and Slovakia ($X), together comprising X% of total exports. Germany lagged somewhat behind, accounting for a further X%.

Among the main countries of destination, Germany, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average refined groundnut oil export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price posted a remarkable increase. The growth pace was the most rapid in 2021 an increase of X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Groundnut Oil Imports

Imports into the Czech Republic

In 2022, the amount of refined groundnut oil imported into the Czech Republic fell remarkably to X tons, waning by X% against 2021. Over the period under review, total imports indicated a perceptible 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. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, refined groundnut oil imports declined dramatically to $X in 2022. In general, imports, however, posted moderate growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

Germany (X tons), Italy (X tons) and the Netherlands (X kg) were the main suppliers of refined groundnut oil imports to the Czech Republic, with a combined X% share of total imports. These countries were followed by the UK, which accounted for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and the UK ($X) appeared to be the largest refined groundnut oil suppliers to the Czech Republic, with a combined X% share of total imports.

The UK, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refined groundnut oil import price stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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