Middle East - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMiddle East: Groundnut Oil Market 2024
Groundnut Oil Market Size in the Middle East
The Middle Eastern groundnut oil market totaled $X in 2021, rising by 4.1% against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.
Groundnut Oil Production in the Middle East
In value terms, groundnut oil production rose remarkably to $X in 2021 estimated in export price. The total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.3% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 35%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.
Groundnut Oil Exports
Exports in the Middle East
In 2021, after two years of decline, there was significant growth in shipments abroad of groundnut oil, when their volume increased by 175% to X tons. Overall, exports enjoyed strong growth. The growth pace was the most rapid in 2018 with an increase of 177% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.
In value terms, groundnut oil exports reduced notably to $X in 2021. Over the period under review, exports, however, faced a abrupt descent. The most prominent rate of growth was recorded in 2018 when exports increased by 95% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.
Exports by Country
The biggest shipments were from Iraq (X tons), together amounting to 98% of total export.
Iraq was also the fastest-growing in terms of the groundnut oil exports, with a CAGR of +124.3% from 2012 to 2021. From 2012 to 2021, the share of Iraq increased by +97 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Iraq ($X) also remains the largest groundnut oil supplier in the Middle East.
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 the Middle East amounted to $X per ton, dropping by -72.9% against the previous year. In general, the export price continues to indicate a precipitous setback. The most prominent rate of growth was recorded in 2019 an increase of 34%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 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 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 the Middle East
In 2021, supplies from abroad of groundnut oil decreased by -6.9% to X tons, falling for the fourth consecutive year after two years of growth. In general, imports, however, recorded a remarkable increase. The growth pace was the most rapid in 2017 when imports increased by 179%. 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. Overall, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2017 when imports increased by 220% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.
Imports by Country
Yemen was the key importing country with an import of around X tons, which reached 39% of total imports. Syrian Arab Republic (X tons) ranks second in terms of the total imports with an 18% share, followed by Kuwait (12%), the United Arab Emirates (10%), Saudi Arabia (6.4%) and Qatar (5%). Israel (X tons) took a little share of total imports.
From 2012 to 2021, average annual rates of growth with regard to groundnut oil imports into Yemen stood at +58.9%. At the same time, Syrian Arab Republic (+73.8%), Kuwait (+37.7%), Israel (+34.3%), the United Arab Emirates (+15.0%) and Saudi Arabia (+8.4%) displayed positive paces of growth. Moreover, Syrian Arab Republic emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +73.8% from 2012-2021. By contrast, Qatar (-12.5%) illustrated a downward trend over the same period. Yemen (+38 p.p.), Syrian Arab Republic (+17 p.p.), Kuwait (+10 p.p.) and Israel (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia and Qatar saw its share reduced by -2.9% and -45.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Syrian Arab Republic ($X), Kuwait ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2021, together comprising 57% of total imports.
Among the main importing countries, Syrian Arab Republic, with a CAGR of +53.7%, saw the highest rates of growth with regard to 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 the Middle East stood at $X per ton in 2021, with an increase of 25% against the previous year. Overall, the import price, however, saw a slight shrinkage. The growth pace was the most rapid in 2015 an increase of 41% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($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
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the groundnut oil market in the Middle East. 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:
- Bahrain
- Iran
- Iraq
- Israel
- Jordan
- Kuwait
- Lebanon
- Oman
- Palestine
- Qatar
- Saudi Arabia
- Syrian Arab Republic
- Turkey
- United Arab Emirates
- Yemen
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in the Middle East, split by region and country
- Trade (exports and imports) in the Middle East
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Bahrain
- Iran
- Iraq
- Israel
- Jordan
- Kuwait
- Lebanon
- Oman
- Palestine
- Qatar
- Saudi Arabia
- Syrian Arab Republic
- Turkey
- United Arab Emirates
- Yemen
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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