United Kingdom: Refined Groundnut Oil Market 2025

Refined Groundnut Oil Market Size in the UK

In 2021, after three years of decline, there was significant growth in the UK refined groundnut oil market, when its value increased by 13% to $X. Over the period under review, consumption recorded a perceptible expansion. 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 the UK

In value terms, refined groundnut oil production soared to $X in 2021 estimated in export price. Overall, production posted a tangible increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 39%. 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 the UK

In 2021, the amount of refined groundnut oil exported from the UK dropped significantly to X tons, falling by -83.3% compared with the previous year. Overall, exports saw a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 206% against the previous year. As a result, the exports reached the peak of X tons, and then declined notably in the following year.

In value terms, refined groundnut oil exports reduced rapidly to $X in 2021. Over the period under review, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 79%. As a result, the exports reached the peak of $X, and then fell notably in the following year.

Exports by Country

France (X tons) was the main destination for refined groundnut oil exports from the UK, accounting for a 77% share of total exports. Moreover, refined groundnut oil exports to France exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. The third position in this ranking was held by Ireland (X tons), with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume to France amounted to +103.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-15.0% per year) and Ireland (-23.5% per year).

In value terms, France ($X) remains the key foreign market for refined groundnut oil exports from the UK, comprising 61% of total exports. The second position in the ranking was held by Germany ($X), with a 12% share of total exports. It was followed by the United States, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France stood at +66.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-12.7% per year) and the United States (-10.4% per year).

Export Prices by Country

In 2021, the average refined groundnut oil export price amounted to $X per ton, with an increase of 61% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt descent. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to France ($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 Norway (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Groundnut Oil Imports

Imports into the UK

In 2021, overseas purchases of refined groundnut oil decreased by -11.2% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, total imports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -21.7% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 36%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, refined groundnut oil imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 38% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of refined groundnut oil to the UK, accounting for a 75% share of total imports. Moreover, refined groundnut oil imports from Belgium exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. The Netherlands (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium totaled +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+36.6% per year) and the Netherlands (+61.7% per year).

In value terms, Belgium ($X) constituted the largest supplier of refined groundnut oil to the UK, comprising 75% of total imports. The second position in the ranking was taken by Italy ($X), with a 14% share of total imports. It was followed by the Netherlands, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value from Belgium amounted to +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+33.9% per year) and the Netherlands (+62.4% per year).

Import Prices by Country

The average refined groundnut oil import price stood at $X per ton in 2021, with an increase of 36% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from France ($X per ton) and Belgium ($X per ton), while the price for Italy ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :