Eastern Asia: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in Eastern Asia

The East Asian refined groundnut oil market stood at $X in 2022, remaining relatively unchanged against the previous year. The total consumption indicated a strong expansion 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, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Refined Groundnut Oil Production in Eastern Asia

In value terms, refined groundnut oil production stood at $X in 2022 estimated in export price. The total production indicated a tangible increase 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Refined Groundnut Oil Exports

Exports in Eastern Asia

In 2022, approx. X tons of refined groundnut oil were exported in Eastern Asia; growing by X% compared with the previous year. Total exports indicated perceptible growth 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, exports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined groundnut oil exports expanded notably to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China represented the key exporter of refined groundnut oil in Eastern Asia, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by Hong Kong SAR (X tons), committing a X% share of total exports.

China was also the fastest-growing in terms of the refined groundnut oil exports, with a CAGR of X% from 2012 to 2022. Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, China ($X) remains the largest refined groundnut oil supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China was relatively modest.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, which is down by X% against the previous year. Overall, the export price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Hong Kong SAR ($X per ton), while China amounted to $X per ton.

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

Refined Groundnut Oil Imports

Imports in Eastern Asia

Refined groundnut oil imports amounted to X tons in 2022, growing by X% on the previous year's figure. Overall, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, refined groundnut oil imports expanded sharply to $X in 2022. Total imports indicated a buoyant increase 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 2017 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Hong Kong SAR prevails in imports structure, reaching X tons, which was near X% of total imports in 2022. It was distantly followed by Macao SAR (X tons), mixing up an X% share of total imports. Japan (X tons) and China (X tons) followed a long way behind the leaders.

Hong Kong SAR was also the fastest-growing in terms of the refined groundnut oil imports, with a CAGR of X% from 2012 to 2022. Macao SAR and China experienced a relatively flat trend pattern. Japan (X%) illustrated a downward trend over the same period. While the share of Macao SAR (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported refined groundnut oil in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Macao SAR ($X), with an X% share of total imports. It was followed by Japan, with a X% share.

In Hong Kong SAR, refined groundnut oil imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Macao SAR (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, the import price continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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