Benelux: Groundnuts Market 2024

Groundnuts Market Size in Benelux

The Benelux groundnuts market fell significantly to $X in 2022, with a decrease of -28.7% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then contracted rapidly in the following year.

Groundnuts Production in Benelux

In value terms, groundnuts production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 100%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Luxembourg (X tons) remains the largest groundnuts producing country in Benelux, comprising approx. 100% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Luxembourg stood at +226.0%.

Groundnuts Exports

Exports in Benelux

In 2022, shipments abroad of ground-nut (in-shell) decreased by -41.9% to X tons, falling for the second year in a row after two years of growth. Overall, exports showed a noticeable setback. The pace of growth was the most pronounced in 2015 with an increase of 97%. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, groundnuts exports shrank rapidly to $X in 2022. Over the period under review, exports showed a pronounced curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by 87%. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands prevails in exports structure, accounting for X tons, which was approx. 94% of total exports in 2022. Belgium (X tons) and Luxembourg (X tons) followed a long way behind the leaders.

The Netherlands experienced a relatively flat trend pattern with regard to volume of exports of ground-nut (in-shell). At the same time, Luxembourg (+48.0%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing exporter exported in Benelux, with a CAGR of +48.0% from 2012-2022. By contrast, Belgium (-23.6%) illustrated a downward trend over the same period. While the share of the Netherlands (+32 p.p.) and Luxembourg (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Belgium (-34.3 p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) remains the largest groundnuts supplier in Benelux, comprising 94% of total exports. The second position in the ranking was held by Belgium ($X), with a 3.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (-22.2% per year) and Luxembourg (+33.8% per year).

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, with an increase of 7.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2020 when the export price increased by 16% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+1.8%), while the other leaders experienced mixed trends in the export price figures.

Groundnuts Imports

Imports in Benelux

After three years of growth, overseas purchases of ground-nut (in-shell) decreased by -37% to X tons in 2022. In general, imports saw a pronounced reduction. The growth pace was the most rapid in 2015 when imports increased by 27%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped remarkably in the following year.

In value terms, groundnuts imports dropped sharply to $X in 2022. Over the period under review, imports showed a pronounced descent. The growth pace was the most rapid in 2013 when imports increased by 19%. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank remarkably in the following year.

Imports by Country

The Netherlands represented the largest importer of ground-nut (in-shell) in Benelux, with the volume of imports recording X tons, which was near 75% of total imports in 2022. Belgium (X tons) took a 20% share (based on physical terms) of total imports, which put it in second place, followed by Luxembourg (4.7%).

The Netherlands experienced a relatively flat trend pattern with regard to volume of imports of ground-nut (in-shell). At the same time, Luxembourg (+4.9%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing importer imported in Benelux, with a CAGR of +4.9% from 2012-2022. By contrast, Belgium (-6.1%) illustrated a downward trend over the same period. The Netherlands (+8.1 p.p.) and Luxembourg (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Belgium saw its share reduced by -10.4% from 2012 to 2022, respectively.

In value terms, the Netherlands ($X) constitutes the largest market for imported ground-nut (in-shell) in Benelux, comprising 77% of total imports. The second position in the ranking was held by Belgium ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands totaled -1.3%. The remaining importing countries recorded the following average annual rates of imports growth: Belgium (-6.1% per year) and Luxembourg (+4.0% per year).

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, surging by 3% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 12% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Luxembourg ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform