Europe: Groundnuts Market 2024

Groundnuts Market Size in Europe

After two years of growth, the Europe groundnuts market decreased by -10.4% to $X in 2022. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, the market hit record highs at $X in 2021, and then dropped in the following year.

Groundnuts Production in Europe

In value terms, groundnuts production totaled $X in 2022 estimated in export price. In general, production, however, showed a slight contraction. The pace of growth was the most pronounced in 2015 when the production volume increased by 53%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Greece (X tons) constituted the country with the largest volume of groundnuts production, comprising approx. 58% of total volume. Moreover, groundnuts production in Greece exceeded the figures recorded by the second-largest producer, Croatia (X tons), threefold. Latvia (X tons) ranked third in terms of total production with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Greece stood at +9.6%. In the other countries, the average annual rates were as follows: Croatia (+512.0% per year) and Latvia (-0.8% per year).

The average groundnuts yield expanded rapidly to X tons per ha in 2022, growing by 9.3% on the previous year's figure. Overall, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the yield increased by 33% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2016 to 2022, the growth of the groundnuts yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The groundnuts harvested area rose modestly to X ha in 2022, surging by 2.4% against 2021 figures. Over the period under review, the harvested area showed a prominent increase. The most prominent rate of growth was recorded in 2016 when the harvested area increased by 68%. Over the period under review, the harvested area dedicated to groundnuts production reached the maximum at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Groundnuts Exports

Exports in Europe

In 2022, shipments abroad of ground-nut (in-shell) decreased by -33.9% to X tons, falling for the second year in a row after two years of growth. In general, exports saw a mild downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 97% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, groundnuts exports shrank significantly to $X in 2022. Overall, exports continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2020 when exports increased by 63% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Croatia represented the main exporting country with an export of about X tons, which accounted for 37% of total exports. It was distantly followed by the Netherlands (X tons), Germany (X tons) and Italy (X tons), together making up a 46% share of total exports. The following exporters - the UK (X tons), Greece (X tons), Spain (X tons) and Poland (X tons) - each finished at an 8.8% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Croatia (with a CAGR of +78.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest groundnuts supplying countries in Europe were Croatia ($X), the Netherlands ($X) and Germany ($X), with a combined 69% share of total exports.

Croatia, with a CAGR of +78.2%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, rising by 11% against the previous year. Over the period under review, the export price, however, showed a slight slump. The most prominent rate of growth was recorded in 2021 an increase of 17%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the UK ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+3.5%), while the other leaders experienced more modest paces of growth.

Groundnuts Imports

Imports in Europe

In 2022, purchases abroad of ground-nut (in-shell) decreased by -13.6% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 25% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then dropped in the following year.

In value terms, groundnuts imports fell to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 20%. Over the period under review, imports attained the maximum at $X in 2021, and then fell in the following year.

Imports by Country

Germany (X tons), Italy (X tons) and Spain (X tons) represented roughly 65% of total imports in 2022. It was distantly followed by France (X tons), achieving a 5.5% share of total imports. Portugal (X tons), the UK (X tons), Slovakia (X tons), the Netherlands (X tons), Switzerland (X tons) and Russia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Germany (with a CAGR of +7.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest groundnuts importing markets in Europe were Germany ($X), Italy ($X) and Spain ($X), with a combined 66% share of total imports.

Germany, with a CAGR of +5.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the import price continues to indicate a slight setback. The most prominent rate of growth was recorded in 2021 when the import price increased by 7.8% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+1.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform