Switzerland: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in Switzerland

In 2021, the Swiss refined groundnut oil market was finally on the rise to reach $X after three years of decline. Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.4% 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 decreased by -22.9% against 2017 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Refined Groundnut Oil Production in Switzerland

In value terms, refined groundnut oil production amounted to $X in 2021 estimated in export price. In general, production posted strong growth. The growth pace was the most rapid in 2016 when the production volume increased by 43% against the previous year. Refined groundnut oil production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Refined Groundnut Oil Exports

Exports from Switzerland

Refined groundnut oil exports from Switzerland fell to X tons in 2021, with a decrease of -14.8% on the year before. Overall, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 570% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, refined groundnut oil exports contracted notably to $X in 2021. In general, exports, however, continue to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2015 with an increase of 418% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons), the Netherlands (X tons) and Singapore (X tons) were the main destinations of refined groundnut oil exports from Switzerland, together comprising 99% of total exports.

From 2012 to 2021, the biggest increases were in Germany (with a CAGR of +24.3%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X) remains the key foreign market for refined groundnut oil exports from Switzerland, comprising 57% of total exports. The second position in the ranking was held by Germany ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands stood at +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+15.5% per year) and Singapore (+5.4% per year).

Export Prices by Country

In 2021, the average refined groundnut oil export price amounted to $X per ton, reducing by -14.7% against the previous year. Overall, the export price saw a pronounced decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 36% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: 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 Italy (+15.1%), while the prices for the other major destinations experienced mixed trend patterns.

Refined Groundnut Oil Imports

Imports into Switzerland

Refined groundnut oil imports into Switzerland surged to X tons in 2021, with an increase of 40% on the previous year. In general, imports, however, continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2016 with an increase of 138% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, refined groundnut oil imports surged to $X in 2021. Overall, imports, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2016 with an increase of 112%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Senegal (X tons) and Belgium (X tons) were the main suppliers of refined groundnut oil imports to Switzerland, together accounting for 96% of total imports.

From 2012 to 2021, the biggest increases were in Germany (with a CAGR of +12.9%), while purchases for the other leaders experienced a decline.

In value terms, Germany ($X) constituted the largest supplier of refined groundnut oil to Switzerland, comprising 66% of total imports. The second position in the ranking was held by Senegal ($X), with a 27% share of total imports. It was followed by Belgium, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Senegal (-5.6% per year) and Belgium (-14.3% per year).

Import Prices by Country

In 2021, the average refined groundnut oil import price amounted to $X per ton, increasing by 8.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 27%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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