South Africa - Crude Palm Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCrude Palm Oil Price in South Africa - 2023
Contents:
- Crude Palm Oil Price in South Africa (CIF) - 2023
- Crude Palm Oil Price in South Africa (FOB) - 2022
- Crude Palm Oil Imports in South Africa
- Crude Palm Oil Exports in South Africa
Crude Palm Oil Price in South Africa (CIF) - 2023
The average crude palm oil import price stood at $1,665 per ton in July 2023, picking up by 8% against the previous month. Over the period under review, the import price, however, saw a pronounced decline. Over the period under review, average import prices attained the peak figure at $2,539 per ton in July 2022; however, from August 2022 to July 2023, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Malaysia.
From July 2022 to July 2023, the rate of growth in terms of prices for Malaysia amounted to -3.5% per month.
Crude Palm Oil Price in South Africa (FOB) - 2022
In 2022, the average crude palm oil export price amounted to $1,677 per ton, with an increase of 29% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude palm oil export price increased by +82.0% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 33% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($2,788 per ton), while the average price for exports to Swaziland ($1,169 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Botswana (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.
Crude Palm Oil Imports in South Africa
For the third year in a row, South Africa recorded decline in supplies from abroad of crude palm oil, which decreased by -1.5% to 3.2K tons in 2022. In general, imports showed a sharp slump.
In value terms, crude palm oil imports surged to $5.2M in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +7.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.2% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Crude Palm Oil in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 4.2 | 3.5 | 3.7 | 5.1 | 6.7% |
| Others | N/A | N/A | N/A | 0.1 | 0% |
| Total | 4.2 | 3.5 | 3.7 | 5.2 | 7.4% |
Top Suppliers of Crude Palm Oil to South Africa in 2022:
- Malaysia (3.2K tons)
Crude Palm Oil Exports in South Africa
In 2022, the amount of crude palm oil exported from South Africa contracted notably to 1.8K tons, waning by -32.2% on 2021 figures. In general, exports showed a pronounced downturn. The pace of growth was the most pronounced in 2021 when exports increased by 178% against the previous year. As a result, the exports attained the peak of 2.7K tons, and then shrank rapidly in the following year.
In value terms, crude palm oil exports contracted to $3.1M in 2022. Over the period under review, exports, however, posted prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by 196%. As a result, the exports reached the peak of $3.5M, and then reduced in the following year.
| Export of Crude Palm Oil in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Zambia | 1,098 | 109 | 1,952 | 998 | -3.1% |
| Zimbabwe | 239 | 16.4 | 41.5 | 814 | 50.5% |
| Swaziland | 119 | 144 | 403 | 356 | 44.1% |
| Lesotho | 125 | 398 | 500 | 323 | 37.2% |
| Namibia | 186 | 369 | 354 | 243 | 9.3% |
| Botswana | 19.5 | 131 | 236 | 217 | 123.3% |
| Democratic Republic of the Congo | 0.2 | 0.6 | N/A | 92.8 | 674.2% |
| Others | 84.1 | 23.5 | 34.6 | 28.1 | -30.6% |
| Total | 1,871 | 1,191 | 3,522 | 3,072 | 18.0% |
Top Export Markets for Crude Palm Oil from South Africa in 2022:
- Zambia (658.3 tons)
- Zimbabwe (529.8 tons)
- Swaziland (304.5 tons)
- Lesotho (212.7 tons)
- Botswana (100.8 tons)
- Namibia (96.8 tons)
- Democratic Republic of the Congo (33.3 tons)
This report provides an in-depth analysis of the crude palm oil market in South Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 257 - Oil of palm
Country coverage:
- South Africa
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in South Africa
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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The rate of growth was highest in August 2022 with a month-on-month increase of 1,166%. In terms of value, imports of Crude Palm Oil reached $429K in July 2023.
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