Indonesia: Refined Groundnut Oil Market 2025

Refined Groundnut Oil Market Size in Indonesia

In 2021, the Indonesian refined groundnut oil market increased by 3.1% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption recorded buoyant growth. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Refined Groundnut Oil Production in Indonesia

In value terms, refined groundnut oil production stood at $X in 2021 estimated in export price. In general, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 53%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Refined Groundnut Oil Exports

Exports from Indonesia

In 2021, overseas shipments of refined groundnut oil decreased by -82.5% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports showed a abrupt descent. The pace of growth was the most pronounced in 2015 with an increase of 2,547% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, refined groundnut oil exports reduced markedly to $X in 2021. Overall, exports showed a deep reduction. The pace of growth was the most pronounced in 2015 when exports increased by 2,283% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Togo (X tons) was the main destination for refined groundnut oil exports from Indonesia, with a 89% share of total exports. Moreover, refined groundnut oil exports to Togo exceeded the volume sent to the second major destination, Ethiopia (X tons), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Togo totaled +6.1%.

In value terms, Togo ($X) remains the key foreign market for refined groundnut oil exports from Indonesia, comprising 73% of total exports. The second position in the ranking was taken by Ethiopia ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Togo totaled +4.8%.

Export Prices by Country

The average refined groundnut oil export price stood at $X per ton in 2021, surging by 83% against the previous year. In general, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, refined groundnut oil export price increased by +98.6% against 2019 indices. The export price peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Ethiopia ($X per ton), while the average price for exports to Togo amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Timor-Leste (+19.2%), while the prices for the other major destinations experienced mixed trend patterns.

Refined Groundnut Oil Imports

Imports into Indonesia

In 2021, refined groundnut oil imports into Indonesia amounted to X tons, growing by 12% on 2020. In general, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 4,401% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, refined groundnut oil imports soared to $X in 2021. Overall, imports posted a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 1,385%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) was the main refined groundnut oil supplier to Indonesia, accounting for a 91% share of total imports. Moreover, refined groundnut oil imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +35.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.4% per year) and Singapore (+169.7% per year).

In value terms, Germany ($X) constituted the largest supplier of refined groundnut oil to Indonesia, comprising 66% of total imports. The second position in the ranking was taken by the United States ($X), with a 24% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +24.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+13.0% per year) and Singapore (+325.0% per year).

Import Prices by Country

In 2021, the average refined groundnut oil import price amounted to $X per ton, surging by 15% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 380%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+36.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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