Israel: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in Israel

The Israeli refined groundnut oil market contracted to $X in 2021, which is down by -5.8% against the previous year. Over the period under review, consumption, however, enjoyed a resilient increase. Refined groundnut oil consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Refined Groundnut Oil Production in Israel

In value terms, refined groundnut oil production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 86%. Refined groundnut oil production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Refined Groundnut Oil Exports

Exports from Israel

In 2021, refined groundnut oil exports from Israel amounted to X tons, growing by 9.7% against the previous year's figure. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 861%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, refined groundnut oil exports contracted modestly to $X in 2021. In general, exports, however, showed a perceptible curtailment. The pace of growth was the most pronounced in 2017 with an increase of 656%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for refined groundnut oil exports from Israel, accounting for a 82% share of total exports. Moreover, refined groundnut oil exports to the UK exceeded the volume sent to the second major destination, Germany (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume to the UK totaled +33.7%.

In value terms, the UK ($X) emerged as the key foreign market for refined groundnut oil exports from Israel, comprising 76% of total exports. The second position in the ranking was taken by Germany ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the UK amounted to +28.4%.

Export Prices by Country

In 2021, the average refined groundnut oil export price amounted to $X per ton, falling by -10% against the previous year. In general, the export price saw a noticeable contraction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 37%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to the UK stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-0.2%), while the prices for the other major destinations experienced a decline.

Refined Groundnut Oil Imports

Imports into Israel

In 2021, after three years of growth, there was significant decline in supplies from abroad of refined groundnut oil, when their volume decreased by -73.3% to X tons. Overall, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 307% against the previous year. As a result, imports reached the peak of X tons, and then reduced markedly in the following year.

In value terms, refined groundnut oil imports dropped notably to $X in 2021. In general, imports, however, continue to indicate a notable expansion. The growth pace was the most rapid in 2020 when imports increased by 269% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), Germany (X tons) and Argentina (X tons) were the main suppliers of refined groundnut oil imports to Israel, together comprising 92% of total imports. Belgium lagged somewhat behind, comprising a further 8%.

From 2012 to 2021, the biggest increases were in Belgium (with a CAGR of +55.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of refined groundnut oil to Israel, comprising 48% of total imports. The second position in the ranking was held by Argentina ($X), with a 22% share of total imports. It was followed by Germany, with a 22% share.

From 2012 to 2021, the average annual growth rate of value from Italy totaled -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+23.7% per year) and Germany (+16.4% per year).

Import Prices by Country

In 2021, the average refined groundnut oil import price amounted to $X per ton, picking up by 20% against the previous year. In general, the import price, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 35%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Belgium ($X per ton) and Argentina ($X per ton), while the price for Germany ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+0.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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