Southern Asia: Groundnut Oil Market 2023

Groundnut Oil Market Size in Southern Asia

In 2021, the South Asian groundnut oil market was finally on the rise to reach $X for the first time since 2016, thus ending a four-year declining trend. Overall, consumption, however, saw a abrupt slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Groundnut Oil Production in Southern Asia

In value terms, groundnut oil production fell slightly to $X in 2021 estimated in export price. In general, production, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of 37% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Groundnut Oil Exports

Exports in Southern Asia

In 2022, shipments abroad of groundnut oil decreased by -67.7% to X tons, falling for the second year in a row after five years of growth. Over the period under review, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 696%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, groundnut oil exports reduced remarkably to $X in 2022. Overall, exports, however, showed a tangible increase. The most prominent rate of growth was recorded in 2020 with an increase of 898%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of groundnut oil, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the groundnut oil exports, with a CAGR of +21.1% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest groundnut oil supplier in Southern Asia.

In India, groundnut oil exports increased at an average annual rate of +18.8% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, surging by 9.2% against the previous year. Over the period under review, the export price, however, saw a mild setback. The most prominent rate of growth was recorded in 2020 when the export price increased by 25% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -1.9% per year.

Groundnut Oil Imports

Imports in Southern Asia

In 2021, the amount of groundnut oil imported in Southern Asia skyrocketed to X tons, picking up by 108% against the year before. In general, imports posted a significant increase. The growth pace was the most rapid in 2017 when imports increased by 737% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, groundnut oil imports surged to $X in 2021. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 383% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

Imports by Country

The purchases of the one major importers of groundnut oil, namely Afghanistan, represented more than two-thirds of total import.

Afghanistan was also the fastest-growing in terms of the groundnut oil imports, with a CAGR of +115.1% from 2012 to 2021. Afghanistan (+90 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Afghanistan ($X) constitutes the largest market for imported groundnut oil in Southern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in Afghanistan totaled +102.7%.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, with a decrease of -42.7% against the previous year. Over the period under review, the import price saw a abrupt decrease. The growth pace was the most rapid in 2020 an increase of 252%. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Afghanistan.

From 2012 to 2021, the rate of growth in terms of prices for Afghanistan amounted to -5.8% per year.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :