Belgium: Groundnut Oil Market 2025

Groundnut Oil Market Size in Belgium

The Belgian groundnut oil market reduced rapidly to $X in 2021, with a decrease of -75.1% against the previous year. In general, consumption faced a abrupt contraction. Groundnut oil consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Groundnut Oil Production in Belgium

In value terms, groundnut oil production shrank markedly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +33.1% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 66%. As a result, production reached the peak level of $X, and then fell dramatically in the following year.

Groundnut Oil Exports

Exports from Belgium

In 2021, overseas shipments of groundnut oil were finally on the rise to reach X tons after two years of decline. Overall, exports, however, saw a pronounced setback. The pace of growth was the most pronounced in 2016 when exports increased by 22% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, groundnut oil exports soared to $X in 2021. Over the period under review, exports, however, saw a noticeable setback. The growth pace was the most rapid in 2016 when exports increased by 32% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons), the Netherlands (X tons) and Germany (X tons) were the main destinations of groundnut oil exports from Belgium, together comprising 73% of total exports. France, Spain, the United Arab Emirates, Luxembourg and Austria lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +144.9%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), the Netherlands ($X) and Germany ($X) constituted the largest markets for groundnut oil exported from Belgium worldwide, with a combined 72% share of total exports. France, Spain, Luxembourg, the United Arab Emirates and Austria lagged somewhat behind, together comprising a further 24%.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +122.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average groundnut oil export price amounted to $X per ton, picking up by 23% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Luxembourg (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Groundnut Oil Imports

Imports into Belgium

In 2021, the amount of groundnut oil imported into Belgium dropped dramatically to X tons, which is down by -58.4% against the previous year. In general, imports showed a abrupt descent. The pace of growth was the most pronounced in 2018 with an increase of 196%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, groundnut oil imports shrank significantly to $X in 2021. Over the period under review, imports continue to indicate a abrupt descent. The growth pace was the most rapid in 2018 with an increase of 136% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Argentina (X tons), the Netherlands (X tons) and the United States (X tons) were the main suppliers of groundnut oil imports to Belgium, together comprising 90% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +126.2%), while purchases for the other leaders experienced a decline.

In value terms, Argentina ($X), the Netherlands ($X) and the United States ($X) constituted the largest groundnut oil suppliers to Belgium, together accounting for 90% of total imports.

In terms of the main suppliers, the United States, with a CAGR of +130.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average groundnut oil import price stood at $X per ton in 2021, growing by 17% against the previous year. In general, the import price, however, recorded a pronounced decline. The growth pace was the most rapid in 2020 an increase of 26%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Argentina ($X per ton) and the Netherlands ($X per ton), while the price for the United States ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Gambia (+25.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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