Australia - Refined Groundnut Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingAustralia's Imports of Refined Groundnut Oil Plummet by 78% to $128K in October 2023
Australia Refined Groundnut Oil Imports
In October 2023, after two months of growth, there was significant decline in overseas purchases of refined groundnut oil, when their volume decreased by -82.8% to 44 tons. Overall, imports, however, continue to indicate a measured increase. The most prominent rate of growth was recorded in September 2023 with an increase of 383% month-to-month. As a result, imports reached the peak of 255 tons, and then contracted dramatically in the following month.
In value terms, refined groundnut oil imports reduced notably to $128K (IndexBox estimates) in October 2023. Over the period under review, imports, however, recorded a pronounced increase. The growth pace was the most rapid in September 2023 with an increase of 264% against the previous month. As a result, imports attained the peak of $587K, and then fell rapidly in the following month.
| COUNTRY | Import Value of Refined Groundnut Oil in Australia (USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | |
| India | 2,172 | 49,170 | 30,474 | 33,378 | 5,263 | 5,787 | 14,250 | 56,625 | 49,745 | 28,394 | 125,927 | 42,016 | 53,598 |
| China | 3,637 | 12,716 | 18,248 | 3,435 | 7,203 | 12,923 | 19,467 | 23,031 | 14,126 | 2,602 | 16,002 | 476,726 | 27,221 |
| Hong Kong | 5,620 | 77,126 | 9,422 | 15,824 | 8,782 | 30,052 | 30,251 | 22,787 | 34,959 | 13,551 | 13,684 | 30,904 | 20,673 |
| Taiwan (Chinese) | 6,039 | N/A | 6,416 | 2,699 | N/A | 3,544 | 7,225 | N/A | N/A | N/A | 1,038 | 1,086 | N/A |
| Belgium | N/A | 61,276 | N/A | N/A | 61,932 | N/A | N/A | 60,958 | N/A | N/A | N/A | N/A | N/A |
| Others | 64,627 | 24,695 | 727 | 1,841 | 10,652 | 11,203 | 33,130 | 3,499 | 54,252 | 13,407 | 4,517 | 36,662 | 26,739 |
| Total | 82,095 | 224,983 | 65,287 | 57,177 | 93,832 | 63,509 | 104,323 | 166,900 | 153,082 | 57,954 | 161,168 | 587,394 | 128,231 |
Imports by Country
In October 2023, India (22 tons) constituted the largest supplier of refined groundnut oil to Australia, with a 49% share of total imports. Moreover, refined groundnut oil imports from India exceeded the figures recorded by the second-largest supplier, China (7.1 tons), threefold.
From October 2022 to October 2023, the average monthly rate of growth in terms of volume from India amounted to +34.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (+18.6% per month) and Hong Kong (+9.6% per month).
In value terms, India ($54K), China ($27K) and Hong Kong ($21K) constituted the largest refined groundnut oil suppliers to Australia, together accounting for 79% of total imports.
Among the main suppliers, India, with a CAGR of +30.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In October 2023, the refined groundnut oil price amounted to $2,912 per ton (CIF, Australia), with an increase of 27% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in July 2023 when the average import price increased by 41% m-o-m. Over the period under review, average import prices attained the maximum at $4,816 per ton in December 2022; however, from January 2023 to October 2023, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Hong Kong ($6,063 per ton), while the price for Malaysia ($1,758 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Hong Kong (+1.7%), while the prices for the other major suppliers experienced a decline.
This report provides an in-depth analysis of the refined groundnut oil market in Australia. 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:
- Prodcom 10415200 - Refined groundnut oil and its fractions (excluding chemically modified)
Country coverage:
- Australia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Australia
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
