Report Update Nov 1, 2024

Iraq - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights

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Iraq: Groundnut Oil Market 2024

Groundnut Oil Market Size in Iraq

The Iraqi groundnut oil market reduced notably to $X in 2021, which is down by -84.3% against the previous year. Over the period under review, consumption showed a abrupt decrease. As a result, consumption attained the peak level of $X, and then reduced remarkably in the following year.

Groundnut Oil Production in Iraq

In value terms, groundnut oil production soared to $X in 2021 estimated in export price. Overall, production, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2014 when the production volume increased by 110% against the previous year. Groundnut oil production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Groundnut Oil Exports

Exports from Iraq

Groundnut oil exports from Iraq surged to X tons in 2021, rising by 322% against 2020 figures. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 667% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, groundnut oil exports surged to $X in 2021. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 356%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for groundnut oil exports from Iraq, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +124.3%.

In value terms, the United Arab Emirates ($X) also remains the key foreign market for groundnut oil exports from Iraq.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates totaled +83.4%.

Export Prices by Country

In 2021, the average groundnut oil export price amounted to $X per ton, with a decrease of -37.5% against the previous year. Overall, the export price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2015 an increase of 37% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to -18.2% per year.

Groundnut Oil Imports

Imports into Iraq

In 2021, supplies from abroad of groundnut oil decreased by -80.8% to X kg, falling for the second consecutive year after two years of growth. Over the period under review, imports showed a abrupt decrease. The pace of growth appeared the most rapid in 2013 with an increase of 367%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, groundnut oil imports fell significantly to $X in 2021. Overall, imports showed a noticeable downturn. The pace of growth appeared the most rapid in 2013 with an increase of 395%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

India (X kg), Turkey (X kg) and the Netherlands (X kg) were the main suppliers of groundnut oil imports to Iraq, together accounting for 90% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +37.9%), while imports for the other leaders experienced a decline.

In value terms, India ($X), Turkey ($X) and the Netherlands ($X) constituted the largest groundnut oil suppliers to Iraq, with a combined 93% share of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +23.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average groundnut oil import price stood at $X per ton in 2021, growing by 84% against the previous year. Overall, import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained 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, amid the top importers, the country with the highest price was India ($X per ton), while the price for Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+18.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for groundnut oil in the world?

China remains the largest groundnut oil consuming country worldwide, accounting for 47% of total volume. Moreover, groundnut oil consumption in China exceeded the figures recorded by the second-largest consumer, Nigeria, sixfold. Sudan ranked third in terms of total consumption with a 4.5% share.

What are the largest producers of groundnut oil in the world?

China remains the largest groundnut oil producing country worldwide, accounting for 41% of total volume. Moreover, groundnut oil production in China exceeded the figures recorded by the second-largest producer, Nigeria, fivefold. India ranked third in terms of total production with a 6.9% share.

What are the leading suppliers of groundnut oil to Iraq?

In value terms, the United Arab Emirates, Italy and Lebanon appeared to be the largest groundnut oil suppliers to Iraq, with a combined 97% share of total imports.

What are the leading importers of groundnut oil from Iraq?

In value terms, the United Arab Emirates remains the key foreign market for groundnut oil exports from Iraq.

What is the average export price for groundnut oil in Iraq?

In 2020, the average groundnut oil export price amounted to $478 per ton, which is down by -18.9% against the previous year.

What is the average import price for groundnut oil in Iraq?

The average groundnut oil import price stood at $5,060 per ton in 2020, growing by 54% against the previous year.

This report provides an in-depth analysis of the groundnut oil market in Iraq. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 244 - Oil of Groundnuts

Country coverage:

Iraq

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Iraq
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023