Report Update Apr 1, 2024

Kenya - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights

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Kenya: Groundnut Oil Market 2024

Groundnut Oil Market Size in Kenya

The Kenyan groundnut oil market was finally on the rise to reach $X in 2022, after six years of decline. In general, consumption continues to indicate strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Groundnut Oil Production in Kenya

In value terms, groundnut oil production stood at $X in 2022 estimated in export price. Over the period under review, production faced a sharp decline. The most prominent rate of growth was recorded in 2015 when the production volume increased by X,300%. Groundnut oil production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Groundnut Oil Exports

Exports from Kenya

In 2022, the amount of groundnut oil exported from Kenya skyrocketed to X tons, increasing by X% against 2021 figures. Overall, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, groundnut oil exports surged to $X in 2022. In general, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for groundnut oil exports from Kenya, accounting for a X% share of total exports. Moreover, groundnut oil exports to the United States exceeded the volume sent to the second major destination, Sweden (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and Canada (X% per year).

In value terms, the United States ($X) remains the key foreign market for groundnut oil exports from Kenya, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Sweden (X% per year).

Export Prices by Country

The average groundnut oil export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price saw a strong expansion. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%).

Groundnut Oil Imports

Imports into Kenya

For the fourth year in a row, Kenya recorded growth in supplies from abroad of groundnut oil, which increased by X% to X tons in 2022. Over the period under review, imports continue to indicate a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, groundnut oil imports soared to $X in 2022. In general, imports saw a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Argentina (X tons) was the main supplier of groundnut oil to Kenya, accounting for a X% share of total imports. It was followed by India (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Argentina was relatively modest.

In value terms, Argentina ($X) constituted the largest supplier of groundnut oil to Kenya, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina was relatively modest.

Import Prices by Country

The average groundnut oil import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price saw a deep setback. The pace of growth was the most pronounced in 2018 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for India totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for groundnut oil in the world?

The country with the largest volume of groundnut oil consumption was China, comprising approx. 37% of total volume. Moreover, groundnut oil consumption in China exceeded the figures recorded by the second-largest consumer, South Africa, twofold. India ranked third in terms of total consumption with a 7.2% share.

What are the largest producers of groundnut oil in the world?

The countries with the highest volumes of production in 2022 were China, South Africa and India, with a combined 59% share of global production. Nigeria, Myanmar, Brazil, Sudan, Senegal, Guinea, the United States and Argentina lagged somewhat behind, together comprising a further 25%.

What are the leading suppliers of groundnut oil to Kenya?

In value terms, Argentina constituted the largest supplier of groundnut oil to Kenya, comprising 98% of total imports. The second position in the ranking was taken by India, with a 1% share of total imports.

What are the leading importers of groundnut oil from Kenya?

In value terms, the United States remains the key foreign market for groundnut oil exports from Kenya, comprising 98% of total exports. The second position in the ranking was taken by Canada, with a 1.4% share of total exports.

What is the average export price for groundnut oil in Kenya?

In 2022, the average groundnut oil export price amounted to $2,920 per ton, with an increase of 11% against the previous year.

What is the average import price for groundnut oil in Kenya?

In 2022, the average groundnut oil import price amounted to $1,648 per ton, shrinking by -26.4% against the previous year.

This report provides an in-depth analysis of the groundnut oil market in Kenya. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 244 - Oil of Groundnuts

Country coverage:

Kenya

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Kenya
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023