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Saudi Arabia - Refined Groundnut Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSaudi Arabia: Refined Groundnut Oil Market 2024
Refined Groundnut Oil Market Size in Saudi Arabia
The Saudi refined groundnut oil market reduced to $X in 2023, shrinking by X% against the previous year. In general, consumption, however, recorded a prominent increase. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.
Refined Groundnut Oil Production in Saudi Arabia
In value terms, refined groundnut oil production fell to $X in 2023 estimated in export price. In general, production, however, continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Refined groundnut oil production peaked at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.
Refined Groundnut Oil Exports
Exports from Saudi Arabia
After seven years of growth, shipments abroad of refined groundnut oil decreased by X% to X tons in 2023. In general, exports continue to indicate a slight downturn. The growth pace was the most rapid in 2022 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.
In value terms, refined groundnut oil exports dropped dramatically to $X in 2023. Over the period under review, exports, however, saw a tangible expansion. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then dropped rapidly in the following year.
Exports by Country
The United Arab Emirates (X tons) was the main destination for refined groundnut oil exports from Saudi Arabia, with a X% share of total exports. Moreover, refined groundnut oil exports to the United Arab Emirates exceeded the volume sent to the second major destination, Oman (X tons), sixfold. The third position in this ranking was held by Yemen (X tons), with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Yemen (X% per year).
In value terms, the United Arab Emirates ($X) remains the key foreign market for refined groundnut oil exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was held by Yemen ($X), with a X% share of total exports. It was followed by Oman, with a X% share.
From 2012 to 2023, the average annual growth rate of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (X% per year) and Oman (X% per year).
Export Prices by Country
In 2023, the average refined groundnut oil export price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, refined groundnut oil export price increased by X% against 2013 indices. The growth pace was the most rapid in 2014 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2022, and then fell slightly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Yemen ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (X%), while the prices for the other major destinations experienced mixed trend patterns.
Refined Groundnut Oil Imports
Imports into Saudi Arabia
After four years of growth, overseas purchases of refined groundnut oil decreased by X% to X tons in 2023. Overall, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2023, the growth of imports failed to regain momentum.
In value terms, refined groundnut oil imports fell to $X in 2023. Over the period under review, imports, however, saw resilient growth. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2022, and then reduced in the following year.
Imports by Country
In 2023, the United Arab Emirates (X tons) constituted the largest refined groundnut oil supplier to Saudi Arabia, with a X% share of total imports. Moreover, refined groundnut oil imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United States (X% per year).
In value terms, the largest refined groundnut oil suppliers to Saudi Arabia were the United Arab Emirates ($X), India ($X) and the United States ($X), with a combined X% share of total imports. Germany lagged somewhat behind, accounting for a further X%.
Germany, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the average refined groundnut oil import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price, however, recorded a notable increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the refined groundnut oil market in Saudi Arabia. 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:
- Saudi Arabia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Saudi Arabia
- 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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