Egypt: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in Egypt

The Egyptian refined groundnut oil market soared to $X in 2021, picking up by 21% against the previous year. Overall, consumption continues to indicate a resilient increase. Refined groundnut oil consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Refined Groundnut Oil Production in Egypt

In value terms, refined groundnut oil production skyrocketed to $X in 2021 estimated in export price. Overall, production saw a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 70% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Refined Groundnut Oil Exports

Exports from Egypt

For the fourth consecutive year, Egypt recorded decline in overseas shipments of refined groundnut oil, which decreased by -16.8% to X tons in 2021. In general, exports faced a deep slump. The pace of growth was the most pronounced in 2017 with an increase of 885%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, refined groundnut oil exports reached $X in 2021. Over the period under review, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 665% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for refined groundnut oil exports from Egypt, with a 52% share of total exports. Moreover, refined groundnut oil exports to Germany exceeded the volume sent to the second major destination, Bahrain (X kg), fourfold. The third position in this ranking was taken by Sudan (X kg), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+23.2% per year) and Sudan (-23.1% per year).

In value terms, Germany ($X) remains the key foreign market for refined groundnut oil exports from Egypt, comprising 72% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 9.6% share of total exports. It was followed by Bahrain, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +21.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+16.1% per year) and Bahrain (+10.1% per year).

Export Prices by Country

The average refined groundnut oil export price stood at $X per ton in 2021, jumping by 21% against the previous year. Over the period under review, the export price showed prominent growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 274%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Kuwait ($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 Togo (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Groundnut Oil Imports

Imports into Egypt

In 2021, approx. X tons of refined groundnut oil were imported into Egypt; declining by -57.7% compared with 2020. Overall, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 200% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, refined groundnut oil imports contracted notably to $X in 2021. Over the period under review, imports continue to indicate a deep downturn. The growth pace was the most rapid in 2016 with an increase of 159%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Switzerland (X tons) constituted the largest supplier of refined groundnut oil to Egypt, with a 31% share of total imports. Moreover, refined groundnut oil imports from Switzerland exceeded the figures recorded by the second-largest supplier, Italy (X kg), twofold. The third position in this ranking was held by China (X kg), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Switzerland was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-15.5% per year) and China (+9.2% per year).

In value terms, the largest refined groundnut oil suppliers to Egypt were France ($X), Switzerland ($X) and China ($X), together accounting for 65% of total imports. Italy, Germany, India, the United States and Spain lagged somewhat behind, together comprising a further 26%.

India, with a CAGR of +181.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average refined groundnut oil import price amounted to $X per ton, rising by 67% against the previous year. In general, the import price saw pronounced growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was France ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+17.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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