Peanut Oil Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Peanut Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Peanut Oil Price Trend for the Q1 of 2024


In the Asia Pacific region, particularly in India, significant improvement was witnessed by the traders of peanut oil during the first quarter of 2024. With a substantial increase in market activity, India benefitted from favorable weather conditions, innovative farming techniques, and government initiatives, driving the growth momentum of the peanut oil market.

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Peanut Oil Price Trends and Forecast

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The farmers also registered excellent crop harvests, supported by agricultural reforms and enhanced irrigation facilities. The government's focus on advanced farming practices and technology adoption further boosted farmer confidence, ensuring ample availability of peanuts and peanut oil in the market. Additionally, the introduction of new crop varieties enhanced yields and contributed to a downward trajectory in peanut oil prices across the region.


Logistical challenges in Ukraine and high stockpiles in the domestic markets adversely impacted the EU peanut oil market. This downfall of the market began with Russia's exit from the Black Sea Grain Deal in July 2023, disrupting Ukraine's safe shipments via the Black Sea corridor. Despite launching alternative marine corridors, protests by Polish carriers on the Ukraine-Poland border affected trade flows into the EU.

Additionally, the manufacturers and traders raised their freight rail transport tariffs in the first quarter of 2024, increasing logistics costs for farmers and further hampering profitability. This tighter supply of peanut oil and slowing demand from key markets like China, India, and Turkey, along with a widening price gap with palm oil, weighed down the total momentum of the peanut oil price trend during the first quarter of 2024.

North America

The North American peanut oil market faced several challenges driven by uncertainties in global supplies. The quality concerns related to aflatoxin asserted a negative impact on several varieties. In the US, there was a focus on only certain grades of peanuts, which raised the pricing quotations of certain grades of peanut oil and subdued the market dynamics of others.

Additionally, tight supplies, especially from European and Asian countries, further degraded the momentum of the peanut oil market during the Q1 of 2024. The market also suffered from the lowering of export volumes and subsequent reduction of the profit margin of traders as lukewarm sentiments prevailed in the domestic as well as overseas consumer markets.

Analyst Insight

According to Procurement Resource, the price trend of Peanut Oil is expected to dwindle in the forthcoming quarters as the rising skepticism amid the consumers regarding the quality of peanut oil and their depreciating spending budget under inflationary pressure will exert an ill effect on the pricing movement of peanut oil.

Peanut Oil Price Trend for the October - December of 2023


The price trend of peanut oil recorded mixed trajectories in the fourth quarter of 2023. During the first half of Q4’23, the prices kept towards the lower side of the price curve owing to weak demand and ample supplies. The high inventories in the domestic markets of Gujarat, Rajasthan, Madhya Pradesh, and Karnataka, coupled with the low demand from the seed mills and weak buying activity from the traders, stockiest, and exporters, led to a drastic decline in the peanut oil prices.

However, with the arrival of the festive season, the prices of peanuts and, thereby, peanut oil inclined in the second half of Q4’23. Moreover, the demand from the East Asian region drove the price trend of peanut oil in the Indian domestic market towards the end of December.


In alliance with its Asian counterpart, the price trend for peanut oil underwent oscillations throughout the fourth quarter of 2023. Initially, the prices kept low and increased towards the end of December, reflective of the rising prices in the Asian exporting nations.

North America

Initially, the prices kept low and inclined during the latter half of the fourth quarter, given the arrival of the festive season and increased downstream demands. In comparison with the historical figures, the US recorded low production yields this year as compared to the previous ones. Severe droughts across major peanut-producing regions of Alabama and Florida forecasted 24% and 26% yield decreases in the marketing year 2023/24.

Analyst Insight

According to Procurement Resource, the price trend of Peanut Oil are expected to incline in the coming months, given the low volume of carry-forward stock amid production shortages and high demands

Peanut Oil Price Trend for the July-September of 2023


The adverse effect of poor climatic conditions reduced the availability of peanuts in Asian countries while its demand grew significantly throughout the third quarter. Amid this consistent depletion of inventories, India was able to become the highest exporter of peanut oil, which in turn drove the peanut oil price trend in the northward direction. However, in the last month, the decline in peanut oil prices was steep due to the escalating cost of production, with had an adverse impact on the market dynamics.


The European countries mimicked the trajectory of the peanut oil price graph as was seen in Asia. The shortage in stocks and active purchasing by the consumer sector helped in the growth of the peanut oil price graph. Further, the inflation in the food products and bolstering prices of crude oil also supported the upward journey of peanut oil prices. But towards the end of the quarter, the trading activities of agricultural products became feeble resulting in the downfall of peanut oil price trend.

North America

North America was also not indifferent from the rest of the countries in terms of peanut oil price trend during the initial phase of the third quarter of 2023. The onset of festival season boosted the rate of procurement of peanut oil and, in turn, its prices. The imports from the majority of overseas nations also declined gradually during this time. However, towards the end, a significant decline in the demand for peanut oil and its export resulted in the southward movement of peanut oil price trend.

Analyst Insight

According to Procurement Resource, the price trend of Peanut Oil are estimated to face downwards as the demand for peanut oil in the upcoming quarters seems weak while the functioning of supply chains and production units is likely to return at its regular pace.

Peanut Oil Price Trend for the First Half of 2023

The prices of Peanut oil, along with other edible oils, oscillated in the first two quarters of 2023 in the Asia Pacific region due to the unseasonal rainfall and long stretch of monsoon. The dip in the prices was very significant in the second quarter as compared to the first.

However, lower production in Argentina favored the export rates from India, which was evident in the increase in the number of shipments. Along with Argentina, Indonesia, Vietnam, the Philippines, Malaysia, and Thailand also increased their procurement rates of peanut oil, which supported the growth of its prices. In addition to this, domestic demand also played a huge role in keeping the market sentiments of peanut oil afloat amid a weak economy and production. The overall inflation in the food sector due to restricted supply from Ukraine and Russia was also an important cause of the incline in the prices of peanut oil.

Analyst Insight

According to Procurement Resource, the price of Peanut Oil is expected to rise as the demand for Peanut oil around the globe is supported by high consumption rates of consumers while the production of raw materials is adversely affected by poor market conditions.

Peanut Oil Price Trend for the Second Half of 2022

The price trend for peanut/groundnut oil kept firm throughout the second half of 2023. Despite the falling prices of other edible oils, the market for peanut oil kept strong, given the change in consumer consumption levels. However, the erratic supply of feedstocks heavily impacted peanut oil prices. The Indian peanut industry is undergoing a crisis owing to loss in acreage, untimely rain, crop reduction, and an increase in farmgate vulnerability.

Many farmers have shifted from growing groundnuts to cotton to minimize harvest losses. Given the drastic decrease in acreage in Gujarat, India, the high groundnut prices are unlikely to go down in the 2022-2023 kharif season. Production is estimated to dip below 3 million tonnes in the current season. Further, the huge spurt in global demands exerted pressure on the already constricted supply chains.

The mills are not able to procure groundnuts at affordable rates for crushing, causing the prices of its derived products to rise amid growing demands. The current market dynamics severely impacted the prices of peanut/groundnut oil, averaging around Rs 3000 per 15 kg tin in the Indian market.

Analyst Insight

According to Procurement Resource, the price trend for peanut oil are expected to remain volatile in the coming months. Given the current vulnerabilities in market supply amid rising demand, groundnut oil is likely to incline.

Procurement Resource provides latest prices of Peanut Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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Groundnut or peanut oil is a healthy sweet-flavoured oil derived from peanuts. It is available in various forms, including refined, cold-pressed, gourmet and blended. It has various nutrients like Vitamin E, Vitamin K, Iron, Zinc, Phytosterols and healthy fats (saturated, monounsaturated and polyunsaturated). It is mainly used for culinary applications.

Product Details

Report Features Details
Product Name Peanut Oil
Industrial Uses As a carrier oil in cosmetic products, as pharmaceutic aid (solvent), as a cooking and salad oil, for deep frying, shortening ingredient for doughnuts and cakes, as an emulsifier, and emollient.
Chemical Formula C22H14N6Na2O9S2
CAS Number 8002-03-7
Synonyms PEANUT OIL, ARACHIS OIL, katchung oil, earthnut oil, OIL OF PEANUT, GROUND NUT OIL, indigenous peanut oil, Solvent crude peanut oil
HS Code 15089000
Molecular Weight 616.49 g/mol
Supplier Database Olam International, CHS Inc., Cargill, Inc., Wilmar International Limited, Archer Daniels Midland Company, Ventura Foods
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

Peanut oil is produced by cleaning and purifying the Peanuts, followed by screw pressing to extract the oil. The extracted oil is then refined through processes like neutralization, bleaching, and deodorization.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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