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Kenya - Refined Groundnut Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingKenya: Refined Groundnut Oil Market 2024
Refined Groundnut Oil Market Size in Kenya
In 2023, the Kenyan refined groundnut oil market was finally on the rise to reach $X for the first time since 2017, thus ending a five-year declining trend. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2023, consumption failed to regain momentum.
Refined Groundnut Oil Production in Kenya
In value terms, refined groundnut oil production rose modestly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2023, production stood at a somewhat lower figure.
Refined Groundnut Oil Exports
Exports from Kenya
In 2023, overseas shipments of refined groundnut oil decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2023, the growth of the exports remained at a somewhat lower figure.
In value terms, refined groundnut oil exports expanded rapidly to $X in 2023. Over the period under review, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2023, the growth of the exports remained at a lower figure.
Exports by Country
The United States (X tons) was the main destination for refined groundnut oil exports from Kenya, with a X% share of total exports. Moreover, refined groundnut oil exports to the United States exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X tons), sevenfold.
From 2012 to 2023, the average annual growth rate of volume to the United States totaled X%.
In value terms, the United States ($X) remains the key foreign market for refined groundnut oil exports from Kenya, comprising X% of total exports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a X% share of total exports.
From 2012 to 2023, the average annual rate of growth in terms of value to the United States stood at X%.
Export Prices by Country
In 2023, the average refined groundnut oil export price amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, showed a drastic downturn. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Democratic Republic of the Congo stood at $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%).
Refined Groundnut Oil Imports
Imports into Kenya
Refined groundnut oil imports into Kenya dropped notably to X tons in 2023, which is down by X% compared with 2022 figures. Over the period under review, imports continue to indicate a slight downturn. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.
In value terms, refined groundnut oil imports declined remarkably to $X in 2023. Overall, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at $X in 2020; however, from 2021 to 2023, imports failed to regain momentum.
Imports by Country
In 2023, the Netherlands (X tons) constituted the largest supplier of refined groundnut oil to Kenya, with a X% share of total imports. Moreover, refined groundnut oil imports from the Netherlands exceeded the figures recorded by the second-largest supplier, India (X tons), twofold.
From 2012 to 2023, the average annual rate of growth in terms of volume from the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).
In value terms, the Netherlands ($X) constituted the largest supplier of refined groundnut oil to Kenya, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports.
From 2012 to 2023, the average annual growth rate of value from the Netherlands stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).
Import Prices by Country
The average refined groundnut oil import price stood at $X per ton in 2023, picking up by X% against the previous year. Over the period under review, the import price, however, showed a abrupt downturn. The growth pace was the most rapid in 2016 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for India ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the refined groundnut oil market in Kenya. 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:
- Prodcom 10415200 - Refined groundnut oil and its fractions (excluding chemically modified)
Country coverage:
- Kenya
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Kenya
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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