Groundnut Oil is a vegetable oil that is commonly used as a cooking oil. It is derived from peanuts, which have a mild, neutral flavor, whereas, on roasting, it gives comparatively a stronger flavor. Peanut oil comprises of nutrients such as fats, proteins, carbohydrates, ash, crude fibers, and moisture. Its primary component are fatty acids such as oleic acid, palmitic acid, and linoleic acid.
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The boiling point for peanut oil measures around 227° C. It is industrially produced by pressing the peanut seeds mechanically. The resultant is then processed through the solvent extraction process to obtain the final product, i.e., Groundnut Oil. It has a wide range of applications in the cooking and fuel industry.
The Netherlands, Germany, and France are the key importer countries for Groundnut Oil. On the other hand, the key exporting countries for the same are Germany, the Netherlands, and France.
Key Details About the Groundnut Oil Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Groundnut Oil price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Groundnut Oil Price Trend, including India Groundnut Oil price, USA Groundnut Oil price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Groundnut Oil Price Trend:
Groundnut Oil or Peanut Oil is a commonly used cooking oil in regions like America, China, India, Africa, and Southeast Asia. It has a high smoke point measuring around 176.67° C, which is higher than other vegetable oils. It is often used to manufacture margarine, which is a substitute for butter, and shortenings that are used in baking procedures.
Moreover, Peanut oil is used in the fuel industries as a source of energy source for diesel engines. It has been one of the earliest demonstrated fuels depicted to power diesel engines, which empowers the spread of biodiesel energy. The oil is used to produce soaps in the process of saponification and is very safe to be used as a massage oil in household activities.
Key Players:
- Olam International
- CHS Inc.
- Cargill, Inc.
- Wilmar International Limited
- Archer Daniels Midland Company
- Ventura Foods
News & Recent Development
- Date: May 7, 2023- The government of Tamil Nadu decides to distribute Groundnut Oil and Coconut Oils through ration shops in the districts namely, Tenkasi, Coimbatore, Nilgiris, and Kanniyakumari.
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