Groundnut oil and fractions market in Caribbean

Earlier Report Observations

The Caribbean market for groundnut oil and fractions recorded significant growth from 2018 to 2023, with total volume increasing from 2 181 t to 2 976 t. This expansion was primarily driven by a steady rise in domestic production, which climbed from 2 047 t to 2 767 t over the period.

Market volume growth experienced a notable fluctuation, peaking in 2019 before a temporary decline in 2020. From 2021 onward, the market resumed its upward trend, with consistent annual increases. Imports provided supplementary supply, varying between 150 t and 230 t each year, while exports remained negligible.

Production groundnut oil and fractions in Caribbean

In kind, 2017-2020, t

Top producers of groundnut oil and fractions, 2017-2020

World map of production of groundnut oil and fractions, 2017-2020

In 2019, Caribbean production of groundnut oil and fractions reached its peak at 2,476 tons. However, by 2020, output had declined to 2,261 tons, marking a modest 8.7% decrease from the previous year. Looking at the broader 2017-2020 period, production actually increased by 5.2%, with an average annual growth rate of 1.7%. The lowest production level was recorded in 2018 at 2,047 tons. The most significant year-over-year increase occurred in 2019, when production surged by 21.0%.

Annual dynamics of production in Caribbean in kind, 2017-2020, t

Exports groundnut oil and fractions from Caribbean

Exports in kind, t

The export market for groundnut oil and fractions from Caribbean showed considerable volatility during this period. Exports hit their lowest point in 2017, then surged to a peak of 18.0 tons in 2018, creating a dramatic 141-fold difference between these two years. By 2020, exports had fallen sharply to just 0.3 tons, representing a steep 79.2% decline from 2019 levels. The most substantial decrease occurred in 2019, when exports dropped by 91.0%, while the largest increase was recorded in 2018 with an extraordinary 13,954.3% growth.

Annual dynamics of product's exports from Caribbean in kind, 2017-2020, t

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Caribbean in kind, 2017-2020

Exports in value, K $ US

Export values exhibited significant volatility throughout these years. The lowest point came in 2017, followed by a peak of 41.0 thousand US dollars in 2018, creating a 123-fold gap between these extremes. In 2020, Caribbean's groundnut oil and fractions exports amounted to 0.5 thousand US dollars, representing an 86.3% decline compared to the previous year. The most substantial decrease occurred in 2019 with a 90.7% drop, while the largest increase was recorded in 2018 with remarkable 12,167.7% growth.

Annual dynamics of product's exports from Caribbean in value, 2017-2020, K $ US

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Caribbean in value, 2017-2020

Imports groundnut oil and fractions to Caribbean

Imports in kind, t

After two consecutive years of growth, Caribbean's imports of groundnut oil and fractions declined slightly. In 2020, imports reached 198.1 tons, showing minimal change from the 198.3 tons recorded in 2019. Over the full 2017-2020 period, imports increased substantially by 84.9%, with an average annual growth rate of 22.7%. The peak import volume occurred in 2019 at 198.3 tons. The most significant year-over-year increase was recorded in 2018, when imports grew by 42.1%.

Annual dynamics of product's imports to Caribbean in kind, 2017-2020, t

From 2017 through 2020, the United States dominated Caribbean's groundnut oil and fractions imports by volume, accounting for 62.7% of total imports. The Netherlands followed with 17.0%, and China contributed 2.1%. Together, these three countries represented 81.8% of all groundnut oil and fractions imported by Caribbean during this period.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Caribbean in kind, 2017-2020

Imports in value, K $ US

In 2020, Caribbean's imports of groundnut oil and fractions reached 433.2 thousand US dollars, representing a measured 4.2% increase compared to the previous year. Over the 2017-2020 period, import values grew by 33.9%, with an average annual growth rate of 10.2%. The most significant decrease occurred in 2019 with a 3.6% decline, while the largest increase was recorded in 2018 with 33.3% growth.

Annual dynamics of product's imports to Caribbean in value, 2017-2020, K $ US

Between 2017 and 2020, the United States and the Netherlands were the dominant suppliers of groundnut oil and fractions to Caribbean in value terms, together accounting for 83.6% of total imports. Other source countries each represented relatively small shares of Caribbean's import market during this period.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Caribbean in value, 2017-2020