Middle East: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in the Middle East

The Middle Eastern refined groundnut oil market dropped to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption, however, posted a strong increase. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Refined Groundnut Oil Production in the Middle East

In value terms, refined groundnut oil production reduced to $X in 2022 estimated in export price. Overall, production, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Refined Groundnut Oil Exports

Exports in the Middle East

In 2022, after nine years of decline, there was significant growth in shipments abroad of refined groundnut oil, when their volume increased by X% to X tons. In general, exports, however, faced a dramatic setback. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, refined groundnut oil exports expanded remarkably to $X in 2022. Over the period under review, exports, however, saw a sharp slump. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Oman (X tons) was the largest exporter of refined groundnut oil, comprising X% of total exports. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (X%) and Turkey (X%). Syrian Arab Republic (X tons) and Israel (X tons) took a relatively small share of total exports.

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

In value terms, Oman ($X), Saudi Arabia ($X) and Turkey ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Among the main exporting countries, Turkey, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price recorded a deep reduction. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced a decline in the export price figures.

Refined Groundnut Oil Imports

Imports in the Middle East

After three years of growth, supplies from abroad of refined groundnut oil decreased by X% to X tons in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then declined significantly in the following year.

In value terms, refined groundnut oil imports reduced rapidly to $X in 2022. In general, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

Yemen (X tons) and the United Arab Emirates (X tons) represented roughly X% of total imports in 2022. Kuwait (X tons) took the next position in the ranking, distantly followed by Jordan (X tons). All these countries together took near X% share of total imports. The following importers - Syrian Arab Republic (X tons), Qatar (X tons) and Oman (X tons) - each amounted to a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (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 Middle East were the United Arab Emirates ($X), Kuwait ($X) and Jordan ($X), with a combined X% share of total imports. Syrian Arab Republic, Yemen, Qatar and Oman lagged somewhat behind, together accounting for a further X%.

Qatar, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, declining by X% against the previous year. Overall, the import price saw a slight reduction. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Syrian Arab Republic ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :