Ireland: Ground-Nut Oil Market Overview 2021

Ground-Nut Oil Market Size in Ireland

In 2019, the Irish ground-nut oil market was finally on the rise to reach $X for the first time since 2016, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2016 when the market value increased by X% year-to-year. Ground-nut oil consumption peaked at $X in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.

Ground-Nut Oil Exports

Exports from Ireland

In 2019, the amount of ground-nut oil exported from Ireland soared to X tonnes, rising by X% compared with 2018. In general, exports, however, recorded a slight contraction. Over the period under review, exports hit record highs at X tonnes in 2007; however, from 2008 to 2019, exports remained at a lower figure.

In value terms, ground-nut oil exports skyrocketed to $X in 2019. Overall, exports, however, recorded a relatively flat trend pattern. Over the period under review, exports attained the maximum at $X in 2008; however, from 2009 to 2019, exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tonnes) was the main destination for ground-nut oil exports from Ireland, accounting for a approx. X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of volume to the Netherlands stood at +X%.

In value terms, the Netherlands ($X) also remains the key foreign market for ground-nut oil exports from Ireland.

From 2007 to 2019, the average annual rate of growth in terms of value to the Netherlands amounted to +X%.

Export Prices by Country

In 2019, the average ground-nut oil export price amounted to $X per tonne, growing by X% against the previous year. In general, the export price recorded a slight expansion. The pace of growth appeared the most rapid in 2010 when the average export price increased by X% y-o-y. The export price peaked at $X per tonne in 2012; however, from 2013 to 2019, export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From 2007 to 2019, the rate of growth in terms of prices for the Netherlands amounted to +X% per year.

Ground-Nut Oil Imports

Imports into Ireland

In 2019, supplies from abroad of ground-nut oil was finally on the rise to reach X tonnes after two years of decline. Over the period under review, imports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked at X tonnes in 2007; however, from 2008 to 2019, imports stood at a somewhat lower figure.

In value terms, ground-nut oil imports surged to $X in 2019. In general, imports, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2011 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at $X in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, the UK (X tonnes) was the main ground-nut oil supplier to Ireland, with a X% share of total imports. Moreover, ground-nut oil imports from the UK exceeded the figures recorded by the second-largest supplier, France (X tonnes), more than tenfold.

From 2007 to 2019, the average annual rate of growth in terms of volume from the UK was relatively modest.

In value terms, the UK ($X) constituted the largest supplier of ground-nut oil to Ireland, comprising X% of total imports. The second position in the ranking was occupied by France ($X), with a X% share of total imports.

From 2007 to 2019, the average annual growth rate of value from the UK amounted to -X%.

Import Prices by Country

The average ground-nut oil import price stood at $X per tonne in 2019, reducing by -X% against the previous year. In general, the import price continues to indicate a perceptible setback. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The import price peaked at $X per tonne in 2009; however, from 2010 to 2019, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2019, the country with the highest price was France ($X per tonne), while the price for the UK totaled $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by France.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for ground-nut oil in the world?

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The country with the largest volume of ground-nut oil consumption was China (3.8M tonnes), comprising approx. 51% of total volume. Moreover, ground-nut oil consumption in China exceeded the figures recorded by the second-largest consumer, India (1.5M tonnes), threefold. The third position in this ranking was occupied by Nigeria (346K tonnes), with a 4.7% share.

What are the largest producers of ground-nut oil in the world?

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China (3.6M tonnes) constituted the country with the largest volume of ground-nut oil production, comprising approx. 49% of total volume. Moreover, ground-nut oil production in China exceeded the figures recorded by the second-largest producer, India (1.5M tonnes), twofold. The third position in this ranking was occupied by Nigeria (347K tonnes), with a 4.7% share.

What are the leading suppliers of ground-nut oil to Ireland?

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In value terms, the UK ($77K) constituted the largest supplier of ground-nut oil to Ireland, comprising 93% of total imports. The second position in the ranking was occupied by France ($4.8K), with a 5.8% share of total imports.

What are the leading importers of ground-nut oil from Ireland?

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In value terms, the Netherlands ($6K) remains the key foreign market for ground-nut oil exports from Ireland.

What is the average export price for ground-nut oil in Ireland?

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The average ground-nut oil export price stood at $3,235 per tonne in 2019, growing by 122% against the previous year.

What is the average import price for ground-nut oil in Ireland?

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In 2019, the average ground-nut oil import price amounted to $2,556 per tonne, waning by -25.5% against the previous year.