Pakistan: Groundnut Oil Market 2024

Groundnut Oil Market Size in Pakistan

In 2021, the Pakistani groundnut oil market decreased by -6.3% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +35.1% against 2018 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Groundnut Oil Production in Pakistan

In value terms, groundnut oil production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2019 with an increase of 150%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Groundnut Oil Exports

Exports from Pakistan

In 2021, groundnut oil exports from Pakistan contracted sharply to X tons, declining by -80% compared with the previous year. Over the period under review, exports showed a deep setback. The growth pace was the most rapid in 2018 when exports increased by 1,644% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, groundnut oil exports declined remarkably to $X in 2021. In general, exports saw a noticeable curtailment. The pace of growth appeared the most rapid in 2018 when exports increased by 778% against the previous year. The exports peaked at $X in 2020, and then declined remarkably in the following year.

Exports by Country

Germany (X tons), the United States (X tons) and the United Arab Emirates (X kg) were the main destinations of groundnut oil exports from Pakistan, with a combined 94% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +45.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for groundnut oil exported from Pakistan were the United States ($X), Germany ($X) and Australia ($X), together accounting for 83% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +59.6%, 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 2021, the average groundnut oil export price amounted to $X per ton, picking up by 54% against the previous year. In general, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, groundnut oil export price increased by +196.6% against 2018 indices. The growth pace was the most rapid in 2019 when the average export price increased by 83%. The export price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+20.9%), while the prices for the other major destinations experienced more modest paces of growth.

Groundnut Oil Imports

Imports into Pakistan

After four years of decline, supplies from abroad of groundnut oil increased by 155% to X tons in 2021. Overall, imports, however, recorded a abrupt curtailment. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, groundnut oil imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a abrupt decrease. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Spain (X tons), the UK (X tons) and India (X tons) were the main suppliers of groundnut oil imports to Pakistan, with a combined 57% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +2.6%), while imports for the other leaders experienced a decline.

In value terms, the UK ($X), the Netherlands ($X) and Spain ($X) were the largest groundnut oil suppliers to Pakistan, with a combined 59% share of total imports. The United Arab Emirates, Belgium, India, Germany and France lagged somewhat behind, together comprising a further 23%.

Among the main suppliers, the United Arab Emirates, with a CAGR of +6.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average groundnut oil import price stood at $X per ton in 2021, with a decrease of -29.7% against the previous year. Overall, import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, groundnut oil import price increased by +30.8% against 2017 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 43%. As a result, import price reached the peak level of $X per ton, and then reduced sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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