Sweden: Refined Groundnut Oil Market 2025

Refined Groundnut Oil Market Size in Sweden

After two years of growth, the Swedish refined groundnut oil market decreased by -11.7% to $X in 2021. Over the period under review, consumption recorded strong growth. Over the period under review, the market reached the peak level at $X in 2020, and then contracted in the following year.

Refined Groundnut Oil Production in Sweden

In value terms, refined groundnut oil production declined rapidly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate buoyant growth. The growth pace was the most rapid in 2016 with an increase of 66% against the previous year. Refined groundnut oil production peaked at $X in 2020, and then fell rapidly in the following year.

Refined Groundnut Oil Exports

Exports from Sweden

In 2021, overseas shipments of refined groundnut oil increased by 17% to X tons, rising for the second year in a row after two years of decline. In general, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 3,258%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, refined groundnut oil exports surged to $X in 2021. Over the period under review, exports saw a strong expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 3,444% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Norway (X tons) was the main destination for refined groundnut oil exports from Sweden, with a 82% share of total exports. Moreover, refined groundnut oil exports to Norway exceeded the volume sent to the second major destination, Finland (X kg), tenfold. The third position in this ranking was held by Italy (X kg), with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume to Norway amounted to +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+25.9% per year) and Italy (+7.9% per year).

In value terms, Norway ($X) remains the key foreign market for refined groundnut oil exports from Sweden, comprising 88% of total exports. The second position in the ranking was taken by Finland ($X), with a 9.7% share of total exports. It was followed by Denmark, with a 1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Norway amounted to +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+74.7% per year) and Denmark (+1.9% per year).

Export Prices by Country

The average refined groundnut oil export price stood at $X per ton in 2021, with an increase of 66% against the previous year. Overall, the export price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 70% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Finland ($X per ton), while the average price for exports to Italy ($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 Finland (+38.8%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Groundnut Oil Imports

Imports into Sweden

In 2021, overseas purchases of refined groundnut oil increased by 1.7% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 192% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, refined groundnut oil imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 76%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of refined groundnut oil to Sweden, with a 85% share of total imports. Moreover, refined groundnut oil imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was held by the UK (X tons), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from Italy amounted to +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.1% per year) and the UK (-18.8% per year).

In value terms, Italy ($X) constituted the largest supplier of refined groundnut oil to Sweden, comprising 59% of total imports. The second position in the ranking was taken by Denmark ($X), with a 22% share of total imports. It was followed by Germany, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+39.2% per year) and Germany (+19.5% per year).

Import Prices by Country

The average refined groundnut oil import price stood at $X per ton in 2021, picking up by 33% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Denmark ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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