Israel: Groundnut Oil Market 2024

Groundnut Oil Market Size in Israel

The Israeli groundnut oil market skyrocketed to $X in 2021, jumping by 52% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a significant expansion. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in years to come.

Groundnut Oil Exports

Exports from Israel

In 2021, approx. X tons of groundnut oil were exported from Israel; shrinking by -84.1% compared with 2020. Overall, exports showed a dramatic downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 1,075%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, groundnut oil exports fell rapidly to $X in 2021. Over the period under review, exports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 711% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for groundnut oil exports from Israel, accounting for a 43% share of total exports. Moreover, groundnut oil exports to Germany exceeded the volume sent to the second major destination, the United States (X kg), threefold. Sweden (X kg) ranked third in terms of total exports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany amounted to +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-44.2% per year) and Sweden (0.0% per year).

In value terms, Germany ($X) emerged as the key foreign market for groundnut oil exports from Israel, comprising 50% of total exports. The second position in the ranking was held by the United States ($X), with a 13% share of total exports. It was followed by Sweden, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-46.5% per year) and Sweden (0.0% per year).

Export Prices by Country

The average groundnut oil export price stood at $X per ton in 2021, picking up by 8.4% against the previous year. Overall, the export price, however, saw a perceptible descent. The pace of growth appeared the most rapid in 2016 an increase of 41%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-0.8%), while the prices for the other major destinations experienced a decline.

Groundnut Oil Imports

Imports into Israel

In 2021, supplies from abroad of groundnut oil decreased by -8.2% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2013 with an increase of 1,168% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, groundnut oil imports expanded slightly to $X in 2021. In general, imports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 806% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of groundnut oil to Israel, with a 80% share of total imports. Moreover, groundnut oil imports from the United States exceeded the figures recorded by the second-largest supplier, Argentina (X tons), more than tenfold. Italy (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +141.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+43.5% per year) and Italy (+1.1% per year).

In value terms, the United States ($X) constituted the largest supplier of groundnut oil to Israel, comprising 77% of total imports. The second position in the ranking was held by Italy ($X), with an 8.8% share of total imports. It was followed by Argentina, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +71.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.8% per year) and Argentina (+37.6% per year).

Import Prices by Country

In 2021, the average groundnut oil import price amounted to $X per ton, growing by 13% against the previous year. Over the period under review, the import price, however, saw a deep contraction. The most prominent rate of growth was recorded in 2020 an increase of 41%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Italy ($X per ton) and Argentina ($X per ton), while the price for the United States ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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