U.S. - Refined Groundnut Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingIn 2023, the United States' Export of Refined Groundnut Oil Reaches $12 Million
U.S. Refined Groundnut Oil Exports
In 2023, after three years of growth, there was decline in overseas shipments of refined groundnut oil, when their volume decreased by -0.8% to 3.7K tons. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 32%. As a result, the exports reached the peak of 4.4K tons. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.
In value terms, refined groundnut oil exports shrank slightly to $12M (IndexBox estimates) in 2023. Overall, total exports indicated mild growth from 2013 to 2023: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by +112.7% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 40%. The exports peaked at $12M in 2022, and then declined in the following year.
| COUNTRY | Export Value of Refined Groundnut Oil in U.S. (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Canada | 4.8 | 3.8 | 3.9 | 4.3 | 4.6 | 5.2 | 3.7 | 3.9 | 5.1 | 6.4 | 9.5 |
| Hong Kong | 1.8 | 1.5 | 1.5 | 1.4 | 0.7 | 0.5 | 0.2 | 1.3 | 2.2 | 2.9 | 1.5 |
| Germany | 0.1 | 0.1 | 0.3 | 0.6 | 0.4 | N/A | N/A | N/A | 0.1 | 0.1 | 0.1 |
| Brazil | 0.2 | 0.1 | 0.2 | 0.1 | N/A | 0.1 | 0.4 | 0.1 | 0.3 | 1.5 | N/A |
| Singapore | N/A | N/A | 1.1 | 0.3 | 0.1 | 0.2 | N/A | N/A | N/A | 0.3 | N/A |
| Malaysia | 1.4 | 0.7 | 1.6 | 0.5 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| China | 1.1 | 1.4 | 1.2 | 0.4 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Others | 0.9 | 0.8 | 0.5 | 0.5 | 0.8 | 1.2 | 1.1 | 0.7 | 0.8 | 0.5 | 0.4 |
| Total | 10.2 | 8.5 | 10.3 | 8.1 | 6.5 | 7.2 | 5.5 | 6.1 | 8.5 | 11.7 | 11.6 |
Exports by Country
Canada (3K tons) was the main destination for refined groundnut oil exports from the United States, accounting for a 82% share of total exports. Moreover, refined groundnut oil exports to Canada exceeded the volume sent to the second major destination, Hong Kong (490 tons), sixfold. The third position in this ranking was held by Germany (30 tons), with a 0.8% share.
From 2013 to 2023, the average annual growth rate of volume to Canada stood at +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong (-3.8% per year) and Germany (+9.5% per year).
In value terms, Canada ($9.5M) remains the key foreign market for refined groundnut oil exports from the United States, comprising 82% of total exports. The second position in the ranking was held by Hong Kong ($1.5M), with a 13% share of total exports. It was followed by Germany, with a 1% share.
From 2013 to 2023, the average annual growth rate of value to Canada amounted to +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong (-1.3% per year) and Germany (+7.1% per year).
Export Prices by Country
In 2023, the refined groundnut oil price amounted to $3,173 per ton, therefore (FOB, US), remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2022 when the average export price increased by 28%. The export price peaked in 2023 and is expected to retain growth in the near future.
Average prices varied somewhat for the major external markets. In 2023, amid the top suppliers, the countries with the highest prices were Singapore ($4,647 per ton) and Brazil ($4,281 per ton), while the average price for exports to Hong Kong ($3,141 per ton) and Canada ($3,156 per ton) were amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the refined groundnut oil market in the U.S.. 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:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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
