EU: Groundnut Oil Market 2024

Groundnut Oil Market Size in the EU

The EU groundnut oil market expanded markedly to $X in 2022, surging by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Groundnut Oil Production in the EU

In value terms, groundnut oil production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Groundnut Oil Exports

Exports in the EU

Groundnut oil exports fell modestly to X tons in 2022, shrinking by X% on 2021 figures. In general, exports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, groundnut oil exports rose rapidly to $X in 2022. Over the period under review, exports continue to indicate a slight slump. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Belgium (X tons) was the main exporter of groundnut oil, generating X% of total exports. France (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Italy (X%), the Netherlands (X%) and Germany (X%).

From 2012 to 2022, average annual rates of growth with regard to groundnut oil exports from Belgium stood at X%. At the same time, Italy (X%) and Germany (X%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2022. The Netherlands experienced a relatively flat trend pattern. By contrast, France (X%) illustrated a downward trend over the same period. Italy (X p.p.), Germany (X p.p.) and the Netherlands (X p.p.) significantly strengthened its position in terms of the total exports, while France saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Belgium, groundnut oil exports shrank by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (X% per year) and France (X% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, growing 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, groundnut oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($X per ton), while France ($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 export price figures.

Groundnut Oil Imports

Imports in the EU

After three years of decline, overseas purchases of groundnut oil increased by X% to X tons in 2022. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, groundnut oil imports amounted to $X in 2022. Over the period under review, imports, however, continue to indicate a mild curtailment. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X tons) was the key importer of groundnut oil, creating X% of total imports. The Netherlands (X tons) took the second position in the ranking, followed by Belgium (X tons) and France (X tons). All these countries together held near X% share of total imports. Germany (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to groundnut oil imports into Italy stood at X%. At the same time, the Netherlands (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the European Union, with a CAGR of X% from 2012-2022. By contrast, Belgium (X%), Germany (X%) and France (X%) illustrated a downward trend over the same period. The Netherlands (X p.p.) and Italy (X p.p.) significantly strengthened its position in terms of the total imports, while Germany, Belgium and France saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Italy ($X), the Netherlands ($X) and Belgium ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

The Netherlands, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, flattening at the previous year. In general, the import price recorded a mild contraction. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. 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.

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

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

Source: IndexBox Platform

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