China: Groundnuts Market 2024

Groundnuts Market Size in China

The Chinese groundnuts market totaled $X in 2022, flattening at the previous year. Overall, consumption showed a slight decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Groundnuts Production in China

In value terms, groundnuts production stood at $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible slump. The pace of growth appeared the most rapid in 2020 when the production volume increased by 13% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

In 2022, the average yield of ground-nut (in-shell) in China reached X tons per ha, standing approx. at 2021. Over the period under review, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the yield increased by 3.4% against the previous year. As a result, the yield reached the peak level of X tons per ha; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the groundnuts harvested area in China declined to X ha, standing approx. at the previous year's figure. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the harvested area increased by 3.6% against the previous year. Over the period under review, the harvested area dedicated to groundnuts production attained the maximum at X ha in 2021, and then shrank in the following year.

Groundnuts Exports

Exports from China

In 2022, overseas shipments of ground-nut (in-shell) decreased by -19% to X tons, falling for the third consecutive year after two years of growth. In general, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of 18% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, groundnuts exports declined significantly to $X in 2022. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 9%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for groundnuts exports from China, with a 35% share of total exports. Moreover, groundnuts exports to Spain exceeded the volume sent to the second major destination, Vietnam (X tons), threefold. Portugal (X tons) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain totaled -5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+10.0% per year) and Portugal (-12.7% per year).

In value terms, Spain ($X) remains the key foreign market for ground-nut (in-shell) exports from China, comprising 40% of total exports. The second position in the ranking was held by Vietnam ($X), with a 10% share of total exports. It was followed by Portugal, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain totaled -5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+19.5% per year) and Portugal (-14.1% per year).

Export Prices by Country

The average groundnuts export price stood at $X per ton in 2022, surging by 4.8% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 14% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Mexico ($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 Vietnam (+8.7%), while the prices for the other major destinations experienced mixed trend patterns.

Groundnuts Imports

Imports into China

In 2022, the amount of ground-nut (in-shell) imported into China dropped rapidly to X tons, with a decrease of -52% against 2021. Over the period under review, imports, however, posted significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 211,515%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, groundnuts imports reduced markedly to $X in 2022. Overall, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 228,213% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main groundnuts supplier to China, accounting for a 99% share of total imports. It was followed by Vietnam (X tons), with a 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +135.1%.

In value terms, the United States ($X) constituted the largest supplier of ground-nut (in-shell) to China, comprising 99% of total imports. The second position in the ranking was held by Vietnam ($X), with a 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +128.2%.

Import Prices by Country

In 2022, the average groundnuts import price amounted to $X per ton, surging by 8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 16% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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