The main consumption markets of peanut oil are European and American countries, China, India, Malaysia, Indonesia, Singapore. The United States and other countries are the main consumption countries of peanut oil. With the improvement of consumption level and the enhancement of consumer health awareness in recent years. The consumption of peanut oil has been increasing continuously.
In recent years, the main consumption market of peanut oil is domestic. When the import demand is greater than the export demand, the import demand is greater than the export demand. It is the main reason. With the continuous strengthening of agricultural industrial structure adjustment and the enforcement of food safety standards and regulations in China. The overall situation of food safety remains stable.
Future Trend Analysis
In 2021, the export volume of peanut oil reached 1.28 million tons, and the average export price was $1.6 / barrel. In terms of export amount, in 2021, China will export 3.5 million tons of peanut oil to more than 10 countries and regions. Such as, the United States and Japan. Among them, developed countries such as the U.S., the European Union, and Japan imported more than $10 million. From the perspective of export countries and regions, the main export destinations of peanut oil are the United States. The European Union, Japan, South Korea and other countries and regions.
Analysis of main export markets
From the distribution of peanut oil export countries (regions), except the United States. Most of the developing countries and regions have great development potential. And the global market demand for peanut oil will continue to grow. Meanwhile, as an important vegetable oil variety in China. The share of Chinese soybean and peanut in the international market will continue to increase.
China’s soybean export accounts for more than 75% of the world’s soybean export. With the increase of soybean import volume and export volume. The export price of peanut oil decreases year by year. According to statistics, the cost price of domestic soybeans in 2020 was 1136 USD/ton, in 2013 it was 1447 USD/ton, and in 2019 it has dropped to 1447 USD/ton. The 2019 domestic soybean price is $1,472 / ton. China is one of the world’s largest producers of peanuts (more than 6m tonnes a year) and largest importers of oil crops (more than 30m tonnes a year) (more than 1m tonnes a month).