Crude Groundnut Oil Market Overview in Norway
In value terms, crude groundnut oil production expanded remarkably to $ in estimated in export prices. Overall, the total production indicated a modest increase from 2007 to : its value increased at an average annual rate of +% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of % year-to-year. As a result, production reached the peak level of $. from 2014 to , production growth failed to regain the momentum.
The size of the crude groundnut oil market in Norway shrank rapidly to $ in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a dramatic downturn. The pace of growth appeared the most rapid in 2015 with an increase of % year-to-year. Over the period under review, the market hit record highs at $ in 2007; however, from 2008 to , consumption failed to regain the momentum.