Australia: Groundnuts Market 2024

Groundnuts Market Size in Australia

In 2022, after two years of growth, there was significant decline in the Australian groundnuts market, when its value decreased by -7.5% to $X. In general, consumption showed a abrupt setback. Groundnuts consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Groundnuts Production in Australia

In value terms, groundnuts production expanded rapidly to $X in 2022 estimated in export price. Overall, production continues to indicate a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 32%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of ground-nut (in-shell) in Australia stood at X tons per ha, rising by 2.9% on 2021 figures. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the yield increased by 35% against the previous year. The groundnuts yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of ground-nut (in-shell) were harvested in Australia; dropping by -14% on the year before. Overall, the harvested area saw a noticeable reduction. The most prominent rate of growth was recorded in 2021 when the harvested area increased by 39% against the previous year. The groundnuts harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.

Groundnuts Exports

Exports from Australia

In 2022, shipments abroad of ground-nut (in-shell) was finally on the rise to reach X tons after five years of decline. In general, exports, however, showed a abrupt downturn. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, groundnuts exports rose notably to $X in 2022. Overall, exports, however, showed a deep contraction. The growth pace was the most rapid in 2016 when exports increased by 35% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Fiji (X tons) was the main destination for groundnuts exports from Australia, with a 87% share of total exports. Moreover, groundnuts exports to Fiji exceeded the volume sent to the second major destination, China (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Fiji stood at -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+47.7% per year) and Papua New Guinea (+0.6% per year).

In value terms, Fiji ($X) remains the key foreign market for ground-nut (in-shell) exports from Australia, comprising 90% of total exports. The second position in the ranking was held by China ($X), with a 5.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Fiji stood at -8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+14.1% per year) and Papua New Guinea (-2.4% per year).

Export Prices by Country

In 2022, the average groundnuts export price amounted to $X per ton, reducing by -26.4% against the previous year. Overall, the export price saw a noticeable decline. The most prominent rate of growth was recorded in 2021 when the average export price increased by 38%. As a result, the export price reached the peak level of $X per ton, and then fell significantly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Fiji (-1.6%), while the prices for the other major destinations experienced a decline.

Groundnuts Imports

Imports into Australia

In 2022, supplies from abroad of ground-nut (in-shell) decreased by -98.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports saw a deep contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 594%. Imports peaked at X tons in 2021, and then declined notably in the following year.

In value terms, groundnuts imports declined remarkably to $X in 2022. Overall, imports, however, enjoyed modest growth. The pace of growth was the most pronounced in 2018 when imports increased by 355% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest groundnuts supplier to Australia, with a 87% share of total imports. Moreover, groundnuts imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -9.7%.

In value terms, China ($X) constituted the largest supplier of ground-nut (in-shell) to Australia, comprising 89% of total imports. The second position in the ranking was taken by Vietnam ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest.

Import Prices by Country

The average groundnuts import price stood at $X per ton in 2022, picking up by 221% against the previous year. In general, the import price enjoyed a strong increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Vietnam amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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