Groundnut oil and fractions market in Northern Africa

Earlier Report Observations

The groundnut oil market in Northern Africa began the period with a production volume of 233 thousand tons and a market size of 232 thousand tons in 2018. That year, industry players and the Senegalese government signed an agreement to regulate the sale of crude peanut oil to refiners, aiming to stabilize prices and secure the supply chain. However, in 2019, both production and market size fell to 225 thousand tons and 206 thousand tons respectively. The following year saw a sharp recovery, with production jumping to 331 thousand tons and market size reaching 297 thousand tons in 2020.

Market volume then entered a phase of stability, remaining around 298 thousand tons in both 2021 and 2022. During this period, technological innovations like cold-press extraction gained traction, preserving more nutrients and enhancing oil quality. Additionally, the COVID-19 pandemic continued to affect global supply-demand balances and trade flows, impacting peanut oil exports from the region.

In 2023, production declined to 235 thousand tons, and the market size contracted to 226 thousand tons. Concurrently, the Senegalese government allocated a 100-billion FCFA budget for the peanut campaign, including seed subsidies to boost output and reduce refined oil imports. Moreover, the country's major oil processor, Sonacos, resumed operations under new management with a focus on securing local peanut supply.

Production groundnut oil and fractions in Northern Africa

In kind, 2017-2020, K t

Top producers of groundnut oil and fractions, 2017-2020

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

After a two-year decline, groundnut oil and fractions production in Northern Africa rebounded. In 2020, production reached 330.9 K t, marking a 47.1% increase from the previous year. Over the period from 2017 to 2020, production grew by 29.4%, which translates to an annualized rate of 9.0%. The lowest production level was recorded in 2019 at 225.0 K t, while the largest decline occurred in 2018 with a drop of 9.1%.

Annual dynamics of production in Northern Africa in kind, 2017-2020, K t

Exports groundnut oil and fractions from Northern Africa

Exports in kind, t

The market displayed an unstable trend throughout the period. Exports bottomed in 2018 and peaked in 2020, with a 112-fold difference between these years. In 2020, groundnut oil and fractions exports from Northern Africa totaled 34 020 t, representing an 80.9% increase compared to the previous year. The minimum value was recorded in 2018 at 302 t, and the largest decline also occurred in 2018 with a decrease of 99.1%. The largest increase was observed in 2019, surging by 6 116.5%.

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

From 2017 to 2020, groundnut oil and fractions exports from Northern Africa were predominantly directed towards China, which accounted for 92.7% of total exports in kind.

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

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

Exports in value, K $ US

The market showed signs of volatility during the observed period. Exports reached their lowest point in 2018 and peaked in 2020, fluctuating by a factor of 4.7. In 2020, groundnut oil and fractions exports from Northern Africa amounted to 53 337 K $ US, a 129.7% increase from 2019. The minimum value was recorded in 2018 at 11 238 K $ US, and the largest decline also occurred in 2018 with a drop of 70.7%.

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

Between 2017 and 2020, the country structure of exports in value terms was highly concentrated, with China alone representing 93.7% of total flows.

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

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

Imports groundnut oil and fractions to Northern Africa

Imports in kind, t

The market exhibited an unstable trend throughout the timeframe. Imports reached their lowest point in 2019 and peaked in 2017, varying by a factor of 9. In 2020, Northern Africa imported 23 t of groundnut oil and fractions, indicating a dramatic increase of 85.3% compared to 2019. The minimum value was recorded in 2019 at 12 t, and the largest decline occurred in 2018 with a decrease of 77.4%.

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

From 2017 to 2020, Spain (42.4% of imports in kind), the United Arab Emirates (34.9% of imports in kind), and Germany (12.9% of imports in kind) were the top contributors to imports in kind, collectively accounting for 90.2% of total flows.

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

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

Imports in value, K $ US

Volatility characterized the market behavior during these years. Import levels fluctuated by a factor of 10, with the low in 2019 and the high in 2017. In 2020, Northern Africa imported 60 K $ US of groundnut oil and fractions, showing an advance of 113.3% year-over-year. The minimum value was recorded in 2019 at 28 K $ US, and the largest decline occurred in 2018 with a drop of 81.2%.

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

Throughout 2017 to 2020, the United Arab Emirates (39.5% of imports in value terms), Spain (37.4% of imports in value terms), and Germany (13.2% of imports in value terms) played leading roles in imports in value terms of groundnut oil and fractions to Northern Africa, jointly taking 90.1% of total flows.

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

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