Germany: Groundnut Oil Market 2023

Groundnut Oil Market Size in Germany

In 2021, the German groundnut oil market decreased by -19.2% to $X, falling for the second year in a row after three years of growth. Overall, consumption showed a abrupt decrease. Groundnut oil consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Groundnut Oil Exports

Exports from Germany

In 2021, approx. X tons of groundnut oil were exported from Germany; growing by 40% on the year before. In general, exports saw resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, groundnut oil exports soared to $X in 2021. Overall, exports saw strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Austria (X tons) was the main destination for groundnut oil exports from Germany, with a 31% share of total exports. Moreover, groundnut oil exports to Austria exceeded the volume sent to the second major destination, Switzerland (X tons), twofold. The third position in this ranking was held by Italy (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Austria amounted to +18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+9.7% per year) and Italy (+23.5% per year).

In value terms, the largest markets for groundnut oil exported from Germany were Austria ($X), Italy ($X) and Switzerland ($X), with a combined 48% share of total exports. The United States, Spain, the Netherlands, Poland, France, the Czech Republic, Jordan, Indonesia and Hungary lagged somewhat behind, together comprising a further 37%.

The United States, with a CAGR of +136.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average groundnut oil export price stood at $X per ton in 2021, picking up by 12% against the previous year. Overall, the export price, however, recorded a slight slump. The most prominent rate of growth was recorded in 2017 an increase of 19% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, 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 ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Groundnut Oil Imports

Imports into Germany

In 2021, supplies from abroad of groundnut oil decreased by -9.8% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 63% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, groundnut oil imports rose markedly to $X in 2021. In general, imports saw a perceptible curtailment. The growth pace was the most rapid in 2019 with an increase of 47% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Belgium (X tons), Italy (X tons) and France (X tons) were the main suppliers of groundnut oil imports to Germany, with a combined 71% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +21.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest groundnut oil suppliers to Germany were Belgium ($X), Italy ($X) and France ($X), together accounting for 66% of total imports.

Italy, with a CAGR of +20.9%, 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

In 2021, the average groundnut oil import price amounted to $X per ton, jumping by 25% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 30% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and Austria ($X per ton), while the price for Belgium ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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