Scandinavia: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in Scandinavia

The Scandinavia refined groundnut oil market expanded modestly to $X in 2022, with an increase of X% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Refined Groundnut Oil Production in Scandinavia

In value terms, refined groundnut oil production totaled $X in 2022 estimated in export price. Overall, production, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Refined Groundnut Oil Exports

Exports in Scandinavia

Refined groundnut oil exports shrank notably to X tons in 2022, dropping by X% on 2021. In general, exports saw a deep contraction. The growth pace was the most rapid in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, refined groundnut oil exports shrank markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a notable expansion. The growth pace was the most rapid in 2017 when exports increased by X%. The level of export peaked at $X in 2021, and then reduced dramatically in the following year.

Exports by Country

In 2022, Sweden (X tons) was the largest exporter of refined groundnut oil, constituting X% of total exports. Finland (X kg) took the second position in the ranking, distantly followed by Norway (X kg). All these countries together took approx. X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to refined groundnut oil exports from Sweden stood at X%. At the same time, Finland (X%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of X% from 2012-2022. By contrast, Norway (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Finland and Sweden increased by X and X percentage points, respectively.

In value terms, Sweden ($X) remains the largest refined groundnut oil supplier in Scandinavia, comprising X% of total exports. The second position in the ranking was taken by Finland ($X), with a X% share of total exports.

In Sweden, refined groundnut oil exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (X% per year) and Norway (X% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price enjoyed buoyant growth. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway ($X per ton) was amongst the lowest.

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

Refined Groundnut Oil Imports

Imports in Scandinavia

In 2022, purchases abroad of refined groundnut oil decreased by X% to X tons, falling for the seventh consecutive year after two years of growth. Over the period under review, imports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, refined groundnut oil imports rose modestly to $X in 2022. In general, imports showed a pronounced slump. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Norway prevails in imports structure, recording X tons, which was near X% of total imports in 2022. It was distantly followed by Sweden (X tons), constituting a X% share of total imports. Finland (X tons) followed a long way behind the leaders.

Imports into Norway decreased at an average annual rate of X% from 2012 to 2022. Sweden experienced a relatively flat trend pattern. Finland (X%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Norway ($X) constitutes the largest market for imported refined groundnut oil in Scandinavia, comprising X% of total imports. The second position in the ranking was held by Finland ($X), with a X% share of total imports.

In Norway, refined groundnut oil imports contracted by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Finland (X% per year) and Sweden (X% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, growing by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

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 Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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