Austria: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in Austria

In 2021, the Austrian refined groundnut oil market increased by 34% to $X, rising for the second year in a row after two years of decline. Overall, consumption posted a resilient increase. Refined groundnut oil consumption peaked in 2021 and is expected to retain growth in the immediate term.

Refined Groundnut Oil Production in Austria

In value terms, refined groundnut oil production declined to $X in 2021 estimated in export price. In general, production continues to indicate a buoyant increase. The growth pace was the most rapid in 2017 with an increase of 47% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Refined Groundnut Oil Exports

Exports from Austria

In 2021, exports of refined groundnut oil from Austria skyrocketed to X tons, picking up by 65% compared with the year before. In general, exports posted resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of 173%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, refined groundnut oil exports surged to $X in 2021. Overall, exports showed strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for refined groundnut oil exports from Austria, with a 94% share of total exports. It was followed by Poland (X tons), with a 1.8% share of total exports. The third position in this ranking was held by Denmark (X tons), with a 1.6% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+70.8% per year) and Denmark (+8.7% per year).

In value terms, Germany ($X) remains the key foreign market for refined groundnut oil exports from Austria, comprising 93% of total exports. The second position in the ranking was held by Poland ($X), with a 1.5% share of total exports. It was followed by Slovenia, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+74.2% per year) and Slovenia (+54.0% per year).

Export Prices by Country

In 2021, the average refined groundnut oil export price amounted to $X per ton, jumping by 16% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 52% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, the countries with the highest prices were Germany ($X per ton) and Slovenia ($X per ton), while the average price for exports to Denmark ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Groundnut Oil Imports

Imports into Austria

Refined groundnut oil imports into Austria skyrocketed to X tons in 2021, with an increase of 97% compared with the previous year. Overall, imports showed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, refined groundnut oil imports skyrocketed to $X in 2021. In general, imports enjoyed a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Italy (X tons) constituted the largest refined groundnut oil supplier to Austria, with a 59% share of total imports. Moreover, refined groundnut oil imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled +259.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+19.0% per year) and the Netherlands (+98.1% per year).

In value terms, Italy ($X) constituted the largest supplier of refined groundnut oil to Austria, comprising 54% of total imports. The second position in the ranking was held by Germany ($X), with a 27% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy amounted to +251.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+17.5% per year) and the Netherlands (+88.7% per year).

Import Prices by Country

In 2021, the average refined groundnut oil import price amounted to $X per ton, growing by 27% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 30%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Germany ($X per ton) and the Netherlands ($X per ton), while the price for Italy ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :