Italy: Groundnuts Market 2024

Groundnuts Market Size in Italy

In 2022, after three years of growth, there was significant decline in the Italian groundnuts market, when its value decreased by -33.9% to $X. Overall, consumption continues to indicate a relatively flat trend pattern. Groundnuts consumption peaked at $X in 2021, and then shrank dramatically in the following year.

Groundnuts Exports

Exports from Italy

In 2022, approx. X tons of ground-nut (in-shell) were exported from Italy; growing by 62% compared with the year before. In general, exports continue to indicate a notable expansion. The pace of growth appeared the most rapid in 2021 with an increase of 216%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, groundnuts exports soared to $X in 2022. Over the period under review, exports saw noticeable growth. The pace of growth was the most pronounced in 2021 with an increase of 257% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Austria (X tons) was the main destination for groundnuts exports from Italy, with a 58% share of total exports. Moreover, groundnuts exports to Austria exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Germany (X tons) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria totaled +55.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+22.6% per year) and Germany (-4.6% per year).

In value terms, Austria ($X), the Netherlands ($X) and Germany ($X) constituted the largest markets for groundnuts exported from Italy worldwide, with a combined 82% share of total exports. Ireland, Israel, Slovenia, Egypt and France lagged somewhat behind, together comprising a further 15%.

In terms of the main countries of destination, Ireland, with a CAGR of +153.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average groundnuts export price amounted to $X per ton, declining by -2.3% against the previous year. Over the period under review, the export price, however, recorded slight growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 33%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Groundnuts Imports

Imports into Italy

In 2022, after three years of growth, there was significant decline in overseas purchases of ground-nut (in-shell), when their volume decreased by -30.9% to X tons. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 31% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, groundnuts imports shrank dramatically to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 28%. Over the period under review, imports reached the peak figure at $X in 2021, and then declined dramatically in the following year.

Imports by Country

In 2022, Egypt (X tons) constituted the largest groundnuts supplier to Italy, accounting for a 72% share of total imports. Moreover, groundnuts imports from Egypt exceeded the figures recorded by the second-largest supplier, Israel (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Egypt totaled +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (+3.2% per year) and the United States (-11.8% per year).

In value terms, Egypt ($X) constituted the largest supplier of ground-nut (in-shell) to Italy, comprising 63% of total imports. The second position in the ranking was taken by Israel ($X), with a 28% share of total imports. It was followed by the United States, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Egypt stood at +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Israel (+1.2% per year) and the United States (-12.3% per year).

Import Prices by Country

In 2022, the average groundnuts import price amounted to $X per ton, waning by -3.9% against the previous year. Over the period under review, the import price recorded a slight descent. The pace of growth was the most pronounced in 2018 when the average import price increased by 3.2% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Israel ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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