Denmark: Crude Groundnut Oil Market 2024

Crude Groundnut Oil Market Size in Denmark

The Danish crude groundnut oil market expanded sharply to $X in 2022, with an increase of 5.5% against the previous year. In general, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.7% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Crude Groundnut Oil Production in Denmark

In value terms, crude groundnut oil production expanded markedly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 35% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Crude Groundnut Oil Exports

Exports from Denmark

Crude groundnut oil exports from Denmark surged to X tons in 2022, rising by 157% compared with the previous year's figure. Over the period under review, exports recorded significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 1,199%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, crude groundnut oil exports surged to $X in 2022. Overall, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2014 with an increase of 1,131%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Greenland (X tons) and Norway (X tons) were the main destinations of crude groundnut oil exports from Denmark.

From 2012 to 2022, the biggest increases were recorded for Greenland (with a CAGR of +41.6%).

In value terms, Norway ($X) emerged as the key foreign market for crude groundnut oil exports from Denmark, comprising 74% of total exports. The second position in the ranking was taken by Greenland ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Norway totaled +63.7%.

Export Prices by Country

The average crude groundnut oil export price stood at $X per ton in 2022, rising by 142% against the previous year. In general, the export price continues to indicate a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Greenland stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+29.6%).

Crude Groundnut Oil Imports

Imports into Denmark

Crude groundnut oil imports into Denmark soared to X tons in 2022, picking up by 54% compared with the previous year. In general, imports, however, saw a perceptible decline. The pace of growth was the most pronounced in 2017 when imports increased by 105%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, crude groundnut oil imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 82% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Austria (X tons) constituted the largest crude groundnut oil supplier to Denmark, with a 83% share of total imports. Moreover, crude groundnut oil imports from Austria exceeded the figures recorded by the second-largest supplier, China (X kg), ninefold. The third position in this ranking was taken by Germany (X kg), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Austria amounted to +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (0.0% per year) and Germany (-19.6% per year).

In value terms, Austria ($X) constituted the largest supplier of crude groundnut oil to Denmark, comprising 59% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by Germany, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Austria totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (0.0% per year) and Germany (-12.3% per year).

Import Prices by Country

The average crude groundnut oil import price stood at $X per ton in 2022, shrinking by -25.3% against the previous year. Over the period under review, the import price saw a deep slump. The pace of growth appeared the most rapid in 2018 when the average import price increased by 27% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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