Peanut Oil Price in India

  • India: 1922 USD/MT

 

In December of Q4 2023, the price of peanut oil in India rose to 1922 USD/MT. This report provides an overview of the latest developments, updates, and the Peanut Oil Price Trend influencing the global peanut oil market, delivering timely and pertinent information for stakeholders.

Peanut Oil Prices December 2023:

  • India: 1922 USD/MT
  • Brazil: 1840 USD/MT

 

Peanut Oil Price Trend- Q4 2023

The peanut oil market is influenced by several key factors that drive its growth and demand. the increasing awareness about the health benefits of peanut oil, such as its high levels of monounsaturated fats and vitamin E, contributes significantly to its market growth. Consumers are increasingly opting for healthier cooking oils, driving the demand for peanut oil as a nutritious alternative. Additionally, the expanding food industry, especially in regions such as Asia-Pacific and North America, fuels the demand for peanut oil in various culinary applications, including frying, baking, and salad dressing. Moreover, the versatility of peanut oil in both domestic and industrial cooking further boosts its market growth. Economic factors such as rising disposable incomes and urbanization also play a crucial role, as they lead to changes in dietary preferences and increased consumption of convenience foods, which often utilize peanut oil as a key ingredient.

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Peanut Oil Market Analysis

The global peanut oil market size reached US$ 10.6 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 14.6 Billion, at a projected CAGR of 3.70% during 2023-2032. Throughout the entire fourth quarter of 2023, there was a consistent decline in peanut oil prices, influenced by various significant factors that intricately shaped the pricing landscape. The initial trigger for this downturn was a broad decrease in downstream consumption from the international market, laying the groundwork for an overall reduction in peanut oil prices. This trend was exacerbated by the buildup of surplus inventory among suppliers in the United States, adding extra downward pressure on prices and contributing to the ongoing market dynamics. The economic climate during this period was characterized by constraints, driven by uncertainties in the global economy, concerns about inflation, and the looming possibility of a recession. Whereas, in the APAC region, significant fluctuations in peanut oil pricing were observed during the fourth quarter of 2023 (October-December). Initially, there was a decline in peanut oil demand due to increased availability and lower prices of alternative edible oils. Additionally, the overall economic slowdown and inflationary pressures impacted consumer purchasing power, leading to reduced consumption of peanut oil. Consequently, the market experienced a downward trend in Q4 2023. The arrival of new crop supplies during the harvest season resulted in increased market availability and subsequent price decreases.

The European region closely mirrored the pricing trend observed in North America, especially in the United States, displaying a predominantly pessimistic pricing trajectory. This pricing pattern was mainly attributed to the ongoing decline in peanut oil prices, driven by weakened downstream consumption. Despite this decrease in consumer demand, there were sufficient inventories available to meet the existing demand. The pattern of domestic acquisitions reflected a need-based approach, sustaining a trade momentum that, although subdued, managed to maintain a certain level of consistency in the short term. Furthermore, during the final quarter of 2023 (Q4), the South American peanut oil market witnessed a downturn, influenced by various factors that impacted price dynamics. Throughout Q4 2023, there was an oversupply of edible oils in the market, leading to an excess of peanut oil. This surplus was compounded by a consistent decline in both domestic and international demand, resulting in a decrease in prices. Additionally, the strengthening of the Brazilian Real increased export costs, further dampening demand.

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Regional Price Analysis:

  • Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand.
    Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece.
    North America: United States and Canada.
  • Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru.
  • Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco.

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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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