Indonesia: Peanut Butter Market 2023

Peanut Butter Market Size in Indonesia

The Indonesian peanut butter market totaled $X in 2021, growing by 3.1% against the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -4.5% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Peanut Butter Production in Indonesia

In value terms, peanut butter production rose slightly to $X in 2021 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 30%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Peanut Butter Exports

Exports from Indonesia

In 2021, peanut butter exports from Indonesia reduced to X tons, falling by -11.4% compared with 2020. In general, exports continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2020 with an increase of 10%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, peanut butter exports reduced to $X in 2021. Over the period under review, exports saw a pronounced decline. The pace of growth was the most pronounced in 2020 when exports increased by 18%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Jordan (X tons) was the main destination for peanut butter exports from Indonesia, with a 25% share of total exports. Moreover, peanut butter exports to Jordan exceeded the volume sent to the second major destination, Israel (X tons), twofold. Malaysia (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Jordan stood at +4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (-0.4% per year) and Malaysia (-11.9% per year).

In value terms, Jordan ($X) remains the key foreign market for peanut butter and prepared or preserved groundnuts exports from Indonesia, comprising 27% of total exports. The second position in the ranking was taken by Israel ($X), with a 12% share of total exports. It was followed by the United States, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Jordan stood at +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (-0.5% per year) and the United States (+5.5% per year).

Export Prices by Country

In 2021, the average peanut butter export price amounted to $X per ton, picking up by 3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2017 an increase of 10%. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Singapore ($X per ton), while the average price for exports to Nigeria ($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 Nigeria (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Peanut Butter Imports

Imports into Indonesia

In 2021, overseas purchases of peanut butter and prepared or preserved groundnuts decreased by -33.3% to X tons, falling for the fourth year in a row after three years of growth. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 199% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, peanut butter imports declined slightly to $X in 2021. In general, imports, however, recorded a modest increase. The pace of growth appeared the most rapid in 2015 when imports increased by 125% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of peanut butter to Indonesia, with a 65% share of total imports. Moreover, peanut butter imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sevenfold. India (X tons) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-16.4% per year) and India (+148.4% per year).

In value terms, China ($X) constituted the largest supplier of peanut butter and prepared or preserved groundnuts to Indonesia, comprising 69% of total imports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total imports. It was followed by Singapore, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-10.6% per year) and Singapore (-11.7% per year).

Import Prices by Country

The average peanut butter import price stood at $X per ton in 2021, growing by 45% against the previous year. Overall, import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, peanut butter import price increased by +98.9% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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