Africa: Groundnut Oil Market 2024

Groundnut Oil Market Size in Africa

The African groundnut oil market amounted to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Groundnut Oil Production in Africa

In value terms, groundnut oil production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

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Groundnut Oil Exports

Exports in Africa

In 2022, the amount of groundnut oil exported in Africa dropped rapidly to X tons, reducing by X% compared with 2021 figures. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then fell markedly in the following year.

In value terms, groundnut oil exports dropped rapidly to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then contracted notably in the following year.

Exports by Country

In 2022, Senegal (X tons) represented the largest exporter of groundnut oil, generating X% of total exports. Nigeria (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Gambia (X%). Guinea (X tons) took a little share of total exports.

Senegal experienced a relatively flat trend pattern with regard to volume of exports of groundnut oil. At the same time, Nigeria (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. By contrast, Gambia (X%) illustrated a downward trend over the same period. Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while Gambia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest groundnut oil supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports. It was followed by Gambia, with an X% share.

In Senegal, groundnut oil exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Gambia (X% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Groundnut Oil Imports

Imports in Africa

In 2022, approx. X tons of groundnut oil were imported in Africa; with a decrease of X% on 2021. In general, imports showed a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, groundnut oil imports dropped notably to $X in 2022. Over the period under review, imports saw a drastic downturn. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mauritania (X tons) and Democratic Republic of the Congo (X tons) represented roughly X% of total imports in 2022. Swaziland (X tons) ranks next in terms of the total imports with a X% share, followed by Togo (X%), Comoros (X%), Kenya (X%), Botswana (X%) and South Africa (X%). Lesotho (X tons), Gambia (X tons), Mali (X tons) and Burkina Faso (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Comoros (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest groundnut oil importing markets in Africa were Swaziland ($X), Democratic Republic of the Congo ($X) and South Africa ($X), with a combined X% share of total imports. Kenya, Botswana, Mauritania, Comoros, Gambia, Mali, Togo, Lesotho and Burkina Faso lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Comoros, with a CAGR of X%, recorded the highest growth rate of 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 2022, the import price in Africa amounted to $X per ton, with an increase of X% against the previous year. In general, the import price recorded strong growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Africa ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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