For the Quarter Ending September 2022
North America
Due to higher domestic home and food industry demand in North America, the price of peanut oil rose in the third quarter of 2022. Prices rose in the first half of Q3 of 2022 because of declining supply and increasing demand, so the prices increased because of high input prices. In the second half of Q3, prices increased in step with the end-use sectors' persistently high demand. Since peanut oil was a different domestic oil source in various provinces due to the price increase of other edible oils, its price also climbed. Towards the end of Q3 2022, the price of Peanut Oil was recorded to be USD 2143/MT for the USA in September 2022.
Asia Pacific
Throughout the Asia Pacific, the price of peanut oil varied because of the uncertain product market dynamics in Q3 2022. The downstream sectors, such as the food and home sectors, are becoming more demand-driven. The prices rose in the first part of Q3 of 2022. The Indonesian ban on palm oil has resulted in higher pricing for edible oils. Prices dropped in the second month of Q3 of 2022 because of Indonesia's easy ban, and the plentiful supply of palm oil has relieved pressure on the price of peanut oil and other edible oils. Due to a rise in demand from downstream sectors, prices rose in the final month of the third quarter. Towards the end of Q3 2022, the price of Peanut Oil was recorded to be INR 165000/MT for FOB Mundra India in September 2022.
Europe
In the European region, the price of Peanut Oil increased in Q3 2022 due to increasing domestic demand in the food and housing industries. Due to a rise in demand and a decline in supply, prices increased in the first quarter of Q3 2022. Prices increased because of high input prices. In the second half of Q3 of 2022, prices increased in step with persistently high demand from the end-use industries. Since peanut oil was a different domestic oil source in various provinces due to the price increase of other edible oils, its price also climbed. Towards the end of Q3 2022, the price of Peanut Oil was recorded to be USD 2062/MT for Germany in September 2022.
For the Quarter Ending June 2022
North America
In North America, the price of Peanut Oil fluctuated in Q2 of 2022, owing to the increased demand from its domestic household and food industries. In the first half of Q2 of 2022, the prices increased due to an upward trajectory in demand and less supply. The prices were hiked due to high input costs. In the second half of Q2 of 2022, the prices increased with consistent robust demand from the end-use industries. Due to the increase in the price of the other edible oil, the price of Peanut Oil was also increased as it was the alternate source of domestic oil in some parts of the provinces.
Asia Pacific
In the Asia Pacific region, the price of Peanut Oil fluctuated in Q2 of 2022, owing to the unstable market dynamics of the product. In the first half of Q2 of 2022, the prices were increased due to an increase in demand from the downstream industries, including the food and household sectors. The edible oil prices were increased due to the ban sanctioned by Indonesia on Palm Oil. In the second half of Q2 of 2022, the prices decreased due to the ease of ban by Indonesia, and the ample supply of Palm Oil has eased the pressure on Peanut Oil prices and other edible oils.
Europe
In the European region, the price of Peanut Oil fluctuated in Q2 2022 because of rising domestic home and food industry demand. Prices rose in the first part of Q2 2022 as a result of rising demand and decreased supply. High input costs led to a price increase. Prices rose in tandem with consistently strong demand from the end-use sectors in the second half of Q2 of 2022. Due to the increase in the price of the other edible oil, the price of Peanut Oil was also increased as it was the alternate source of domestic oil in some parts of the provinces.
For the Quarter Ending March 2022
North America
In North America, Peanut oil prices fluctuated in the first quarter of 2022, with healthy demand in the region. Due to favorable weather conditions in late December and early January, the harvest was good, which affected the price trend. At the onset of the second half, the prices went up due to the Russia Ukraine invasion leading to port congestion, suspended transportation, and logistics issues. Also, the groundnut seed scarcity negatively impacted the rabi crop. With surging demand from end-user industries, peanut oil prices further increased as the North American region experienced a supply crunch. Towards the end of the quarter, the prices of peanut oil were observed to increase with widening supply-demand gap.
Asia Pacific
In the Asia Pacific region, the peanut oil prices fluctuated drastically in Q1 2022. In the first half of Q1, peanut oil prices were on the lower side due to sufficient supply in the domestic market owing to favorable weather conditions and reduction in import duties. In major exporting countries, the productivity of the feedstock peanut was surplus in the previous quarter, contributing to fall in its prices, globally. At the onset of the second half, peanut oil prices increased significantly due to the Russian Ukraine conflict, which resulted in higher prices by disrupting trade routes and hiking up freight charges amid climate crises. The global increase in edible oil prices led to surging demand for compressed oil. Towards the end of the quarter, peanut oil prices showed an upward trend with positive cost support. Later, the Indonesian government-imposed ban on the export of palm oil, sending big importers like India to scramble for alternatives.
Europe
In the European region, the market of peanut oil experience stable trajectory with sharp surge in the price towards mid quarter. The Russian Ukraine invasion surged the prices of cooking oil globally due to increased freight charges, suspended transportation, and route disruption. Moreover, increasing demand from downstream biofuel industry kept the prices on upward trajectory. Also soaring demand from retailer and restricted supply from producing belts retained the peanut prices higher in the first quarter of 2022. Due to supply-demand imbalance, imports to Italy and Netherlands also affected with supply crunch in the international market.
