Vegetable oils: ground-nut oil and its fractions, other than crude, whether or not refined, but not chemically modified

In 2024, vegetable oils: ground-nut oil and its fractions, other than crude, whether or not refined, but not chemically modified trade exhibited slight decline, with global flows reaching $108,740,062 and a three-year compound annual growth rate of -0.4% (five-year: +2.4%). The all-time peak of $116,551,591 was recorded in 2017; the current level is 7% below that high-water mark.

Over the 30-year observation window (1995–2024), 52% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is steady (-1.9% acceleration).

The World Trade Flows Characterization classifies vegetable oils: ground-nut oil and its fractions, other than crude, whether or not refined, but not chemically modified as "One-way trade" in the medium price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.131). The three largest exporters — Belgium ($26.9M), China ($21.9M), and United States ($12.1M) — collectively dominate supply flows. The leading exporter has grown at +11.3% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.074). The three largest import markets are Hong Kong ($18.4M), United Kingdom ($10.9M), and Canada ($10.5M). The largest importing market sources from 11 different supplying countries.

Estimated substitution elasticity: -2.42. Buyers have moderate flexibility to shift sourcing, but face some switching costs.

The dominant trade corridor is China → Hong Kong at $15.3M, representing 83.5% of the importer's total demand.

The volatility score for vegetable oils: ground-nut oil and its fractions, other than crude, whether or not refined, but not chemically modified is 2 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.