Germany: Crude Groundnut Oil Market 2024

Crude Groundnut Oil Market Size in Germany

In 2022, the German crude groundnut oil market decreased by -14.4% to $X, falling for the third consecutive year after three years of growth. In general, consumption, however, continues to indicate a mild increase. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Crude Groundnut Oil Exports

Exports from Germany

In 2022, shipments abroad of crude groundnut oil increased by 1.6% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 460%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, crude groundnut oil exports contracted modestly to $X in 2022. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 166%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for crude groundnut oil exports from Germany, with a 41% share of total exports. Moreover, crude groundnut oil exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. The third position in this ranking was taken by Switzerland (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +42.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-21.3% per year) and Switzerland (+23.2% per year).

In value terms, the United States ($X) remains the key foreign market for crude groundnut oil exports from Germany, comprising 57% of total exports. The second position in the ranking was held by Austria ($X), with a 15% share of total exports. It was followed by Switzerland, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +57.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (-1.5% per year) and Switzerland (+18.1% per year).

Export Prices by Country

In 2022, the average crude groundnut oil export price amounted to $X per ton, declining by -2.2% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 171% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then reduced modestly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to the Netherlands ($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 the United States (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Groundnut Oil Imports

Imports into Germany

In 2022, purchases abroad of crude groundnut oil decreased by -22.4% to X tons, falling for the third consecutive year after four years of growth. Over the period under review, imports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2019 when imports increased by 198%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, crude groundnut oil imports stood at $X in 2022. In general, imports, however, saw slight growth. The most prominent rate of growth was recorded in 2019 when imports increased by 157% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest crude groundnut oil supplier to Germany, accounting for a 75% share of total imports. Moreover, crude groundnut oil imports from the United States exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold. The third position in this ranking was taken by Belgium (X tons), with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+50.6% per year) and Belgium (-5.4% per year).

In value terms, the United States ($X) constituted the largest supplier of crude groundnut oil to Germany, comprising 77% of total imports. The second position in the ranking was taken by France ($X), with an 11% share of total imports. It was followed by Austria, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+37.0% per year) and Austria (-14.7% per year).

Import Prices by Country

The average crude groundnut oil import price stood at $X per ton in 2022, growing by 33% against the previous year. Over the period under review, the import price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by 36%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Austria ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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