Groundnut Oil is a vegetable oil that is commonly used as a cooking oil. It is derived from peanuts, which have a mild, neutral flavor, whereas, on roasting, it gives comparatively a stronger flavor. Peanut oil comprises of nutrients such as fats, proteins, carbohydrates, ash, crude fibers, and moisture. Its primary component are fatty acids such as oleic acid, palmitic acid, and linoleic acid.
The boiling point for peanut oil measures around 227° C. It is industrially produced by pressing the peanut seeds mechanically. The resultant is then processed through the solvent extraction process to obtain the final product, i.e., Groundnut Oil. It has a wide range of applications in the cooking and fuel industry.
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The Netherlands, Germany, and France are the key importer countries for Groundnut Oil. On the other hand, the key exporting countries for the same are Germany, the Netherlands, and France.
Key Details About the Groundnut Oil Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Groundnut Oil price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Groundnut Oil Price Chart, including India Groundnut Oil price, USA Groundnut Oil price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Groundnut Oil Price Trend:
The price of groundnut oil can be influenced by various industrial uses. Here are some key factors:
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Food Industry: Groundnut oil is extensively used in cooking and food preparation due to its flavor and high smoking point. As demand from fast food chains and processed food manufacturers increases, this can lead to a rise in its price.
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Biofuel Production: The use of vegetable oils, including groundnut oil, in biofuel production has grown. As governments and organizations push for renewable energy sources, the demand for biofuels could impact groundnut oil prices by diverting supplies from food production to fuel.
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Cosmetics and Personal Care Products: Groundnut oil is also utilized in the cosmetics industry for products like moisturizers, body oils, and hair care products. As consumer demand for natural and organic personal care products increases, so could the demand for groundnut oil, influencing its market price.
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Export Market Dynamics: For countries that are major producers of groundnut oil, such as India, the export market plays a crucial role. Changes in global trade policies or tariffs can affect export volumes and prices.
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Agricultural Factors: The cost of groundnut oil is directly influenced by the production of groundnuts. Factors such as weather conditions, pestilence, and changes in agricultural technology or practices that affect crop yields can significantly impact oil prices.
These industrial and market dynamics interplay to determine the trends in groundnut oil prices. Monitoring these factors can provide insights into potential price movements.
Key Players:
- Olam International
- CHS Inc.
- Cargill, Inc.
- Wilmar International Limited
- Archer Daniels Midland Company
- Ventura Foods
News & Recent Development
- Date: May 7, 2023- The government of Tamil Nadu decides to distribute Groundnut Oil and Coconut Oils through ration shops in the districts namely, Tenkasi, Coimbatore, Nilgiris, and Kanniyakumari.
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