Switzerland: Groundnut Oil Market 2024

Groundnut Oil Market Size in Switzerland

The Swiss groundnut oil market soared to $X in 2021, picking up by 88% against the previous year. Over the period under review, consumption showed a temperate expansion. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Groundnut Oil Production in Switzerland

In value terms, groundnut oil production declined to $X in 2021 estimated in export price. Overall, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +66.4% against 2016 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 91%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Groundnut Oil Exports

Exports from Switzerland

Groundnut oil exports from Switzerland fell dramatically to X tons in 2021, with a decrease of -15.6% on 2020. Overall, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 609%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, groundnut oil exports fell rapidly to $X in 2021. Over the period under review, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2015 when exports increased by 411%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons), the Netherlands (X tons) and Singapore (X tons) were the main destinations of groundnut oil exports from Switzerland, together comprising 77% 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 Germany (with a CAGR of +23.3%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) remains the key foreign market for groundnut oil exports from Switzerland, comprising 48% of total exports. The second position in the ranking was taken by Germany ($X), with a 21% share of total exports. It was followed by Singapore, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands amounted to +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+15.2% per year) and Singapore (+5.4% per year).

Export Prices by Country

The average groundnut oil export price stood at $X per ton in 2021, shrinking by -9.8% against the previous year. Over the period under review, the export price continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2017 when the average export price increased by 34%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, 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 the Netherlands ($X per ton), while the average price for exports to Germany ($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 Netherlands (+3.1%), while the prices for the other major destinations experienced a decline.

Groundnut Oil Imports

Imports into Switzerland

Groundnut oil imports into Switzerland soared to X tons in 2021, increasing by 121% on 2020. In general, imports showed a prominent increase. The growth pace was the most rapid in 2015 with an increase of 133%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, groundnut oil imports skyrocketed to $X in 2021. Over the period under review, imports saw slight growth. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

South Africa (X tons), Senegal (X tons) and Argentina (X tons) were the main suppliers of groundnut oil imports to Switzerland, together accounting for 94% of total imports. These countries were followed by Sudan and Germany, which together accounted for a further 5.5%.

From 2012 to 2021, the biggest increases were recorded for Sudan (with a CAGR of +22.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest groundnut oil suppliers to Switzerland were South Africa ($X), Senegal ($X) and Germany ($X), together accounting for 90% of total imports. These countries were followed by Argentina and Sudan, which together accounted for a further 8.4%.

Among the main suppliers, Sudan, with a CAGR of +24.8%, 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

In 2021, the average groundnut oil import price amounted to $X per ton, picking up by 2.7% against the previous year. Overall, the import price, however, showed a noticeable descent. The pace of growth was the most pronounced in 2020 when the average import price increased by 18%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sudan (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :