Benin: Ground-Nut Oil Market 2020

Ground-Nut Oil Market Size in Benin

The revenue of the ground-nut oil market in Benin amounted to $X in 2018, falling by -X% against the previous year. In general, the total market indicated moderate growth from 2007 to 2018: its value decreased at an average annual rate of -X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, ground-nut oil consumption decreased by -X% against 2015 indices. The pace of growth appeared the most rapid in 2015 with an increase of X% year-to-year. In that year, the ground-nut oil market reached its peak level of $X. From 2016 to 2018, the growth of the ground-nut oil market remained at a somewhat lower figure.

Ground-Nut Oil Production in Benin

In value terms, ground-nut oil production stood at $X in 2018 estimated in export prices. Overall, ground-nut oil production continues to indicate a significant increase. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, ground-nut oil production reached its maximum level at $X in 2017, and then declined slightly in the following year.

Ground-Nut Oil Exports

Exports from Benin

Ground-nut oil exports from Benin amounted to X kg in 2018, falling by -X% against the previous year. Over the period under review, ground-nut oil exports continue to indicate a deep drop. The growth pace was the most rapid in 2008 with an increase of X% year-to-year. In that year, ground-nut oil exports reached their peak of X tons. From 2009 to 2018, the growth of ground-nut oil exports remained at a lower figure.

In value terms, ground-nut oil exports amounted to $X in 2018. Overall, ground-nut oil exports continue to indicate an abrupt downturn. The pace of growth was the most pronounced in 2008 with a decrease of -X% against the previous year. Over the period under review, ground-nut oil exports attained their peak figure at $X in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

Exports by Country

Argentina (X tons) and Brazil (X tons) were the major exporters of ground-nut oil in 2018, finishing at near X% and X% of total exports, respectively. Senegal (X tons) took an X% share (based on tons) of total exports, which put it in second place, followed by Iran (X%), Nicaragua (X%) and India (X%). Belgium (X tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Iran (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Brazil ($X) and Senegal ($X) constituted the countries with the highest levels of exports in 2018, together accounting for X% of total exports. Nicaragua, India, Iran, Belgium and Benin lagged somewhat behind, together accounting for a further X terms of the main exporting countries, Iran (+X% per year) recorded the highest growth rate of exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The ground-nut oil export price in Benin stood at $X per ton in 2018, declining by -X% against the previous year. Over the period under review, the ground-nut oil export price, however, continues to indicate a perceptible expansion. The pace of growth was the most pronounced in 2010 an increase of X% year-to-year. Benin export price peaked at $X per ton in 2017, and then declined slightly in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was Belgium ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Nicaragua, while the other leaders experienced more modest paces of growth.

Ground-Nut Oil Imports

Imports into Benin

In 2018, approx. X tons of ground-nut oil were imported into Benin; standing approx. at the previous year. Overall, ground-nut oil imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by X% year-to-year. In that year, ground-nut oil imports attained their peak of X tons. From 2016 to 2018, the growth of ground-nut oil imports remained at a somewhat lower figure.

In value terms, ground-nut oil imports stood at $X in 2018. In general, ground-nut oil imports continue to indicate a deep shrinkage. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Benin imports peaked at $X in 2013; however, from 2014 to 2018, imports stood at a somewhat lower figure.

Imports by Country

In 2018, China (X tons) and Lebanon (X tons) were the key importers of ground-nut oilaround the world, together generating X% of total imports. Italy (X tons) ranks next in terms of the total imports with a X% share, followed by the U.S. (X%). The following importers - the Netherlands (X tons), France (X tons), China, Hong Kong SAR (X tons), Sudan (X tons) and Switzerland (X tons) - together made up X% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Sudan (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Lebanon ($X), China ($X) and Italy ($X) were the countries with the highest levels of imports in 2018, with a combined X% share of total imports. The U.S., the Netherlands, China, Hong Kong SAR, France, Switzerland, Sudan and Benin lagged somewhat behind, together comprising a further X recorded the highest rates of growth with regard to imports, among the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the ground-nut oil import price in Benin amounted to $X per ton, coming down by -X% against the previous year. Overall, the ground-nut oil import price continues to indicate an abrupt descent. The most prominent rate of growth was recorded in 2010 when the import price increased by X% y-o-y. Benin import price peaked at $X per ton in 2011; however, from 2012 to 2018, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was China, Hong Kong SAR ($X per ton), while Sudan ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Lebanon, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform