United Arab Emirates: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in the United Arab Emirates

In 2021, the refined groundnut oil market in the United Arab Emirates was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -21.1% against 2017 indices. Refined groundnut oil consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Refined Groundnut Oil Production in the United Arab Emirates

In value terms, refined groundnut oil production expanded remarkably to $X in 2021 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -32.6% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 61%. Refined groundnut oil production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Refined Groundnut Oil Exports

Exports from the United Arab Emirates

In 2021, overseas shipments of refined groundnut oil were finally on the rise to reach X tons after three years of decline. Overall, exports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2015 with an increase of 882%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, refined groundnut oil exports soared to $X in 2021. Over the period under review, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 333%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Oman (X tons), Burundi (X tons) and Pakistan (X tons) were the main destinations of refined groundnut oil exports from the United Arab Emirates, with a combined 71% 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 Pakistan (with a CAGR of +48.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refined groundnut oil exported from the United Arab Emirates were Pakistan ($X), Oman ($X) and Senegal ($X), together comprising 90% of total exports.

Among the main countries of destination, Pakistan, with a CAGR of +58.8%, saw the highest rates of growth with regard to 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 refined groundnut oil export price amounted to $X per ton, rising by 138% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Pakistan ($X per ton), while the average price for exports to Burundi ($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 Iran (+530.6%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Groundnut Oil Imports

Imports into the United Arab Emirates

In 2021, approx. X tons of refined groundnut oil were imported into the United Arab Emirates; growing by 81% compared with the previous year. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 416% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, refined groundnut oil imports soared to $X in 2021. In general, imports posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 250%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

India (X tons), Belgium (X tons) and the Netherlands (X tons) were the main suppliers of refined groundnut oil imports to the United Arab Emirates, together accounting for 99% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +36.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refined groundnut oil suppliers to the United Arab Emirates were India ($X), Belgium ($X) and the Netherlands ($X), with a combined 98% share of total imports.

The Netherlands, with a CAGR of +57.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 refined groundnut oil import price amounted to $X per ton, surging by 5.1% against the previous year. In general, the import price continues to indicate modest growth. The growth pace was the most rapid in 2014 when the average import price increased by 70% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for Belgium ($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 Netherlands (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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