In 2023, China remained the leading importer of peanut oil with a significant share of 73.89 thousand metric tons, highlighting its dominance in the market. The United States followed at a distant second with 6.16 thousand metric tons. Hong Kong and Switzerland showed lesser import quantities at 3.69 and 1.23 thousand metric tons, respectively. Notably, Mexico's imports recorded a steep decline by 100%, marking a complete cessation. While China's imports increased by 11.77%, the U.S. saw a slight decrease of 1.53%.
Future trends to watch in global peanut oil imports include:
- China's continued growth, potentially widening the gap with other countries.
- Monitoring the U.S. for any changes in domestic production that might affect import needs.
- Observation of potential recovery or strategy shifts in Mexico's import patterns.
Top countries in Peanut Oil Import Share by Country (Thousand Metric Tons)
| # | 8 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 73.89 | 2023 | +2.74% | +11.77% | View data |
| 2 | 2 United States | 6.16 | 2023 | -10.71% | -1.53% | View data |
| 3 | 3 Hong Kong | 3.69 | 2023 | |||
| 4 | 4 Switzerland | 1.23 | 2023 | +25% | -8.97% | View data |
| 5 | 5 Malaysia | 0.49 | 2023 | 0% | 0% | View data |
| 6 | 6 Japan | 0.25 | 2023 | 0% | 0% | View data |
| 7 | 7 Mexico | 0.25 | 2023 | 0% | View data | |
| 8 | 8 Nigeria | 0.25 | 2023 | 0% | 0% | View data |
