Report Update Nov 1, 2024

Venezuela - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Groundnut Oil Market 2024

Groundnut Oil Market Size in Venezuela

After two years of growth, the Venezuelan groundnut oil market decreased by -29.7% to $X in 2021. In general, consumption continues to indicate a deep setback. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Groundnut Oil Production in Venezuela

In value terms, groundnut oil production reduced dramatically to $X in 2021 estimated in export price. Over the period under review, production showed a abrupt downturn. The pace of growth appeared the most rapid in 2016 when the production volume increased by 251% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Groundnut Oil Exports

Exports from Venezuela

Groundnut oil exports from Venezuela totaled X kg in 2013, leveling off at the previous year's figure. Overall, exports showed a relatively flat trend pattern. The exports peaked in 2013 and are likely to continue growth in the immediate term.

In value terms, groundnut oil exports totaled $X in 2013. In general, exports recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs in 2013 and are expected to retain growth in the near future.

Exports by Country

Aruba (X kg) was the main destination for groundnut oil exports from Venezuela, accounting for a approx. 100% share of total exports.

From 2013 to 2013, the average annual rate of growth in terms of volume to Aruba was relatively modest.

From 2013 to 2013, the average annual rate of growth in terms of value to Aruba was relatively modest.

Groundnut Oil Imports

Imports into Venezuela

For the seventh consecutive year, Venezuela recorded growth in purchases abroad of groundnut oil, which increased by 144% to X tons in 2021. In general, imports enjoyed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, groundnut oil imports soared to $X in 2021. Overall, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) was the main groundnut oil supplier to Venezuela, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +76.0%.

In value terms, the United States ($X) constituted the largest supplier of groundnut oil to Venezuela.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +63.3%.

Import Prices by Country

In 2021, the average groundnut oil import price amounted to $X per ton, rising by 4.6% against the previous year. In general, the import price, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2015 when the average import price increased by 29% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to -7.2% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for groundnut oil in the world?

The country with the largest volume of groundnut oil consumption was China, comprising approx. 47% of total volume. Moreover, groundnut oil consumption in China exceeded the figures recorded by the second-largest consumer, Nigeria, sixfold. The third position in this ranking was occupied by Sudan, with a 4.5% share.

What are the largest producers of groundnut oil in the world?

The country with the largest volume of groundnut oil production was China, accounting for 41% of total volume. Moreover, groundnut oil production in China exceeded the figures recorded by the second-largest producer, Nigeria, fivefold. The third position in this ranking was occupied by India, with a 6.9% share.

What are the leading suppliers of groundnut oil to Venezuela?

In value terms, Lebanon $257) constituted the largest supplier of groundnut oil to Venezuela.

What is the average export price for groundnut oil in Venezuela?

In 2009, the average groundnut oil export price amounted to $7,933 per ton, almost unchanged from the previous year.

What is the average import price for groundnut oil in Venezuela?

The average groundnut oil import price stood at $2,254 per ton in 2014, leveling off at the previous year.

This report provides an in-depth analysis of the groundnut oil market in Venezuela. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 244 - Oil of Groundnuts

Country coverage:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023