EU: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in the EU

The EU refined groundnut oil market declined modestly to $X in 2022, falling by X% against the previous year. Overall, consumption, however, showed a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Refined Groundnut Oil Production in the EU

In value terms, refined groundnut oil production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Refined Groundnut Oil Exports

Exports in the EU

In 2022, the amount of refined groundnut oil exported in the European Union declined modestly to X tons, with a decrease of X% against the year before. Overall, exports showed a pronounced shrinkage. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined groundnut oil exports amounted to $X in 2022. Over the period under review, exports showed a slight downturn. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Belgium (X tons) represented the largest exporter of refined groundnut oil, generating X% of total exports. France (X tons) ranks second in terms of the total exports with an X% share, followed by Italy (X%), the Netherlands (X%) and Germany (X%).

From 2012 to 2022, average annual rates of growth with regard to refined 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. By contrast, the Netherlands (X%) and France (X%) illustrated a downward trend over the same period. While the share of Italy (X p.p.) and Germany (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of France (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Belgium, refined groundnut oil exports contracted 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, with an increase of X% against the previous year. Export price indicated a modest expansion 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%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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 ($X per ton), while France ($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.

Refined Groundnut Oil Imports

Imports in the EU

In 2022, refined groundnut oil imports in the European Union rose slightly to X tons, surging by X% compared with 2021. In general, imports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, refined groundnut oil imports rose notably to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of refined groundnut oil imports in 2022 were the Netherlands (X tons), France (X tons) and Germany (X tons), together resulting at X% of total import. Belgium (X tons) ranks next in terms of the total imports with a X% share, followed by Austria (X%) and Spain (X%). Luxembourg (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined groundnut oil importing markets in the European Union were the Netherlands ($X), Germany ($X) and France ($X), with a combined X% share of total imports. Belgium, Austria, Spain and Luxembourg lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Germany ($X per ton) and Austria ($X per ton), while Luxembourg ($X per ton) and Spain ($X per ton) were 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 more modest paces of growth.

Source: IndexBox Platform

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