Groundnut oil is basically derived from peanuts and is also referred to as peanut oil or arachis oil. It is primarily employed for frying foods. The smoke point of groundnut is 232°C approximately.
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It has a very mild and neutral flavour. The main components of groundnut oil are palmitic acid, linoleic acid, and oleic acid.
It has 32 percent polyunsaturated fat, 17 percent saturated fat, and 46 percent monosaturated fat nutritionally.
The top groundnut oil-producing regions are China, Nigeria, India, Myanmar, the United States, Argentina, Brazil, Vietnam, Niger, and Indonesia.
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 chart, 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 Impact Groundnut oil Price Trend:
Consumers’ lifestyles are evolving constantly along with the modernization of culture. Natural products are increasingly being used by consumers in their daily lives. Also, as science and technology advance, consumers are becoming more aware of the advantages of skin care cosmetics made with organic ingredients, which is driving up demand for these natural ingredients like groundnut oil.
For instance, customers favour skincare products made with groundnut oil because they can help soothe mild skin irritations and lessen the redness. Eventually, the antioxidant properties of the vitamin E it contains aid in the battle against ageing.
Groundnut oil, a rich emollient, helps moisturise and condition skin so that it appears and feels softer, smoother, and more luminous. An essential component of the skincare sector is hydrogenated peanut oil, which also increases viscosity. The high-fat content of groundnut oil makes it a fantastic base for massage oils.
Fortified groundnut oil is used by several cosmetic manufacturers as an emollient in skin and hair care products. In order to produce appealing soaps, serums, and other goods, cosmetic manufacturers use plant-based oils with flavouring added that keeps their nutrients.
Hence, customers are gravitating towards the peanut oil market, which is also considerably driving the industry, as a result of the increased need for products based on groundnut oil in daily life.
Key Market Players:
- Archer Daniels Midland,
- Olam International,
- Adani Wilmar Limited.,
- Ventura Foods, Others
News and Events:
- March 2022: Shree Ram Proteins Ltd. announced plans to establish a new oil refinery while diversifying its company. For the new business division, the corporation placed an order for a cutting-edge refining facility. By the end of January 2023, the company will introduce rapeseed oil, groundnut oil, and cottonseed oil. It belongs to the refined edible oil category and will serve the company’s home market. Hence, by implementing diversification, the company is growing both its clientele and the range of products it offers them.
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