MENA: Groundnut Oil Market 2025

Groundnut Oil Market Size in MENA

In 2021, the MENA's groundnut oil market decreased by -8.1% to $X for the first time since 2018, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020, and then declined in the following year.

Groundnut Oil Production in MENA

In value terms, groundnut oil production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when the production volume increased by 18%. As a result, production attained the peak level of $X, and then contracted in the following year.

Groundnut Oil Exports

Exports in MENA

After two years of decline, overseas shipments of groundnut oil increased by 171% to X tons in 2021. Over the period under review, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 173%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, groundnut oil exports declined remarkably to $X in 2021. In general, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 92%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Iraq (X tons) represented roughly 97% of total exports in 2021.

Iraq was also the fastest-growing in terms of the groundnut oil exports, with a CAGR of +124.3% from 2012 to 2021. From 2012 to 2021, the share of Iraq increased by +97 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iraq ($X) also remains the largest groundnut oil supplier in MENA.

From 2012 to 2021, the average annual growth rate of value in Iraq totaled +83.4%.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, reducing by -72.6% against the previous year. Overall, the export price recorded a significant curtailment. The most prominent rate of growth was recorded in 2019 when the export price increased by 34%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

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

Groundnut Oil Imports

Imports in MENA

In 2021, overseas purchases of groundnut oil decreased by -6.3% to X tons, falling for the fourth consecutive year after two years of growth. Overall, imports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of 159% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, groundnut oil imports soared to $X in 2021. In general, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 203% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Yemen was the main importer of groundnut oil in MENA, with the volume of imports accounting for X tons, which was near 39% of total imports in 2021. It was distantly followed by Syrian Arab Republic (X tons), Kuwait (X tons), the United Arab Emirates (X tons), Saudi Arabia (X tons) and Qatar (X tons), together committing a 51% share of total imports. Israel (X tons) took a minor share of total imports.

Imports into Yemen increased at an average annual rate of +58.9% from 2012 to 2021. At the same time, Syrian Arab Republic (+73.8%), Kuwait (+37.7%), Israel (+34.3%), the United Arab Emirates (+15.0%) and Saudi Arabia (+8.4%) displayed positive paces of growth. Moreover, Syrian Arab Republic emerged as the fastest-growing importer imported in MENA, with a CAGR of +73.8% from 2012-2021. By contrast, Qatar (-12.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Yemen, Syrian Arab Republic, Kuwait, Israel and the United Arab Emirates increased by +37, +17, +10, +2.4 and +2.1 percentage points, respectively.

In value terms, the largest groundnut oil importing markets in MENA were Syrian Arab Republic ($X), Kuwait ($X) and the United Arab Emirates ($X), with a combined 55% share of total imports.

In terms of the main importing countries, Syrian Arab Republic, with a CAGR of +53.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, rising by 25% against the previous year. Over the period under review, the import price, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 when the import price increased by 35%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform