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Groundnut Oil exports reached record highs in 2024 and are expected to continue growing in the near future, with exports valued at $397M.
Explore the top import markets for groundnut oil and learn about the key players in the global market. Discover the demand trends and consumer preferences driving the industry.
From 2018 to 2023, the growth of Groundnut Oil imports failed to regain momentum. In value terms, Groundnut Oil imports dropped to $60M in 2023.
Groundnut Oil imports reached a peak of 21K tons in 2016 but have since declined. By 2023, imports had fallen to $18M in value.
Groundnut Oil imports reached a peak of 21K tons in 2016, but from 2017 to 2023, they remained at a slightly lower level. In terms of value, imports of Groundnut Oil decreased to $20M in 2023.
Groundnut Oil exports saw a staggering 248% month-on-month increase in June 2023, reaching $22M in value by November 2023.
Groundnut Oil exports saw a substantial 81% growth in March 2023 compared to the previous month, reaching a total value of $7M in February 2024.
While imports in general experienced a significant decline, the import of Groundnut Oil saw a tremendous surge, reaching $37M in December 2023 in terms of value.
In December 2022, the growth rate for the import of Groundnut Oil was at its highest, with a 60% increase compared to the previous month. In terms of value, Groundnut Oil imports reached $35 million in September 2023.
In June 2023, the price of Groundnut Oil was $2,737 per ton in Hong Kong, representing an 11% increase compared to the previous month.
In terms of value, the imports of Groundnut Oil dropped to $356K in June 2023.
In March 2023, the groundnut oil price stood at $2,170 per ton (CIF, France), dropping by -2.5% against the previous month.
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