Morocco: Groundnuts Market 2024

Groundnuts Market Size in Morocco

The Moroccan groundnuts market declined slightly to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Groundnuts Production in Morocco

In value terms, groundnuts production fell modestly to $X in 2022 estimated in export price. In general, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +20.5% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 71%. Groundnuts production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

The average yield of ground-nut (in-shell) in Morocco shrank to X tons per ha in 2022, which is down by -2.1% on the previous year. The yield figure increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 7.1%. Over the period under review, the average groundnuts yield reached the maximum level at X tons per ha in 2021, and then fell in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the groundnuts harvested area in Morocco rose slightly to X ha, surging by 2% compared with the year before. Over the period under review, the harvested area, however, saw a mild decline. The pace of growth was the most pronounced in 2019 when the harvested area increased by 19%. Over the period under review, the harvested area dedicated to groundnuts production reached the maximum at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Groundnuts Exports

Exports from Morocco

In 2018, exports of ground-nut (in-shell) from Morocco soared to X kg, picking up by 20% on the previous year's figure. Over the period under review, exports, however, faced a precipitous descent. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2018, the exports stood at a somewhat lower figure.

In value terms, groundnuts exports contracted to $X in 2018. In general, exports, however, continue to indicate a dramatic descent. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2018, the exports failed to regain momentum.

Exports by Country

Cabo Verde (X kg) was the main destination for groundnuts exports from Morocco, accounting for a 88% share of total exports. Moreover, groundnuts exports to Cabo Verde exceeded the volume sent to the second major destination, Switzerland (X kg), eightfold.

From 2012 to 2018, the average annual growth rate of volume to Cabo Verde was relatively modest.

In value terms, Switzerland ($X) and Cabo Verde ($X) were the largest markets for groundnuts exported from Morocco worldwide.

Cabo Verde, with a CAGR of 0.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average groundnuts export price stood at $X per ton in 2018, waning by -25% against the previous year. Overall, the export price, however, saw notable growth. The pace of growth was the most pronounced in 2013 an increase of 60%. The export price peaked at $X per ton in 2015; however, from 2016 to 2018, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Cabo Verde totaled $X per ton.

From 2012 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Groundnuts Imports

Imports into Morocco

After two years of decline, purchases abroad of ground-nut (in-shell) decreased by -43.4% to X tons in 2022. Overall, imports, however, continue to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2017 with an increase of 185% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, groundnuts imports contracted significantly to $X in 2022. Over the period under review, imports continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 46% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Egypt (X tons) was the main groundnuts supplier to Morocco, accounting for a approx. 100% share of total imports.

From 2016 to 2022, the average annual growth rate of volume from Egypt was relatively modest.

In value terms, Egypt ($X) constituted the largest supplier of ground-nut (in-shell) to Morocco.

From 2016 to 2022, the average annual rate of growth in terms of value from Egypt was relatively modest.

Import Prices by Country

In 2022, the average groundnuts import price amounted to $X per ton, increasing by 23% against the previous year. Over the period under review, the import price, however, saw a abrupt setback. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Egypt.

From 2016 to 2022, the rate of growth in terms of prices for Senegal amounted to -21.0% per year.

Source: IndexBox Platform

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