Indonesia: Crude Groundnut Oil Market 2024

Crude Groundnut Oil Market Size in Indonesia

The Indonesian crude groundnut oil market reduced to $X in 2022, falling by -2.7% against the previous year. Over the period under review, consumption recorded a slight decline. The pace of growth appeared the most rapid in 2017 with an increase of 9%. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Crude Groundnut Oil Production in Indonesia

In value terms, crude groundnut oil production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 16% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Crude Groundnut Oil Exports

Exports from Indonesia

Crude groundnut oil exports from Indonesia surged to X tons in 2022, growing by 57% against 2021 figures. Over the period under review, exports, however, recorded a abrupt decline. The growth pace was the most rapid in 2014 when exports increased by 97% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, crude groundnut oil exports fell slightly to $X in 2022. Overall, exports, however, showed a deep setback. The pace of growth was the most pronounced in 2015 with an increase of 72% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for crude groundnut oil exports from Indonesia, with a 67% share of total exports. Moreover, crude groundnut oil exports to Canada exceeded the volume sent to the second major destination, Singapore (X kg), twofold.

From 2012 to 2022, the average annual growth rate of volume to Canada was relatively modest.

In value terms, Singapore ($X) remains the key foreign market for crude groundnut oil exports from Indonesia, comprising 66% of total exports. The second position in the ranking was held by Canada ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Singapore amounted to -2.5%.

Export Prices by Country

The average crude groundnut oil export price stood at $X per ton in 2022, falling by -38% against the previous year. In general, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 95%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+2.5%).

Crude Groundnut Oil Imports

Imports into Indonesia

In 2022, after two years of growth, there was decline in overseas purchases of crude groundnut oil, when their volume decreased by -1.5% to X tons. In general, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 263%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, crude groundnut oil imports declined slightly to $X in 2022. Overall, imports, however, saw a pronounced expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 282% against the previous year. As a result, imports attained the peak of $X. From 2018 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 Indonesia, with a 76% share of total imports. Moreover, crude groundnut oil imports from the United States exceeded the figures recorded by the second-largest supplier, Singapore (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +1.1%.

In value terms, the United States ($X) constituted the largest supplier of crude groundnut oil to Indonesia, comprising 84% of total imports. The second position in the ranking was held by Singapore ($X), with a 6.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +15.9%.

Import Prices by Country

The average crude groundnut oil import price stood at $X per ton in 2022, falling by -3.2% against the previous year. In general, the import price, however, posted strong growth. The pace of growth appeared the most rapid in 2013 an increase of 71%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat 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 the United States ($X per ton), while the price for Singapore stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+14.7%).

Source: IndexBox Platform

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