Italy: Crude Groundnut Oil Market 2024

Crude Groundnut Oil Market Size in Italy

In 2022, after two years of growth, there was significant decline in the Italian crude groundnut oil market, when its value decreased by X% to $X. In general, consumption, however, continues to indicate a relatively flat trend pattern. Crude groundnut oil consumption peaked at $X in 2021, and then dropped in the following year.

Crude Groundnut Oil Production in Italy

In value terms, crude groundnut oil production declined slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Crude groundnut oil production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Crude Groundnut Oil Exports

Exports from Italy

In 2022, after two years of growth, there was significant decline in shipments abroad of crude groundnut oil, when their volume decreased by X% to X tons. In general, exports, however, posted noticeable growth. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, crude groundnut oil exports shrank significantly to $X in 2022. Overall, exports, however, showed mild growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then reduced dramatically in the following year.

Exports by Country

Spain (X tons) was the main destination for crude groundnut oil exports from Italy, with a X% share of total exports. Moreover, crude groundnut oil exports to Spain exceeded the volume sent to the second major destination, France (X tons), eightfold. The third position in this ranking was taken by Slovenia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Slovenia (X% per year).

In value terms, Spain ($X), France ($X) and Slovenia ($X) appeared to be the largest markets for crude groundnut oil exported from Italy worldwide, together accounting for X% of total exports. Moreover, crude groundnut oil exports in Spain exceeded the figures recorded by the second-largest exporter, France, twofold.

In terms of the main countries of destination, Spain, with a CAGR of X%, recorded 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

The average crude groundnut oil export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price showed a pronounced slump. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Groundnut Oil Imports

Imports into Italy

In 2022, overseas purchases of crude groundnut oil decreased by X% to X tons, falling for the fifth year in a row after two years of growth. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by X%. 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, crude groundnut oil imports reduced to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of crude groundnut oil to Italy, accounting for a X% share of total imports. Moreover, crude groundnut oil imports from Brazil exceeded the figures recorded by the second-largest supplier, Senegal (X tons), fourfold. The third position in this ranking was held by Nicaragua (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Nicaragua (X% per year).

In value terms, Brazil ($X) constituted the largest supplier of crude groundnut oil to Italy, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Nicaragua, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Nicaragua (X% per year).

Import Prices by Country

In 2022, the average crude groundnut oil import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price recorded a slight reduction. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Gambia ($X per ton) and Senegal ($X per ton), while the price for Nicaragua ($X per ton) and Brazil ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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