Report Update: Apr 1, 2024

South Africa - Fish Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights

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Price for Fish Fat and Oil in South Africa - 2023

Price for Fish Fat and Oil in South Africa (FOB) - 2022

The average fish fat and oil export price stood at $2,693 per ton in 2022, increasing by 38% against the previous year. Overall, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fish fat and oil export price increased by +100.7% against 2017 indices. The growth pace was the most rapid in 2013 an increase of 78% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($3,443 per ton), while the average price for exports to Chile ($778 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 France (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Fish Fat and Oil in South Africa (CIF) - 2022

In 2022, the average fish fat and oil import price amounted to $5,031 per ton, with a decrease of -5.3% against the previous year. In general, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fish fat and oil import price increased by +5.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 121% against the previous year. As a result, import price attained the peak level of $9,868 per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($8,954 per ton), while the price for Namibia ($1,345 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iceland (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Fish Fat and Oil in South Africa

Fish fat and oil exports from South Africa surged to 12K tons in 2022, increasing by 113% compared with the year before. In general, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fish fat and oil exports surged to $33M in 2022. Over the period under review, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Fish Fat and Oil in South Africa (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Denmark	1.0	3.3	5.6	16.3	153.5%
United Kingdom	2.2	5.7	1.7	3.7	18.9%
France	0.4	2.1	1.4	3.4	104.1%
Spain	0.3	0.9	0.9	2.4	100.0%
Norway	0.3	N/A	0.2	2.1	91.3%
Chile	0.1	0.1	0.1	1.4	141.0%
Germany	N/A	0.2	0.1	1.1	134.5%
Australia	N/A	N/A	0.6	0.7	16.7%
Japan	0.6	0.9	N/A	N/A	50.0%
Saudi Arabia	0.4	0.2	0.2	N/A	-29.3%
Others	0.3	0.9	0.3	1.8	81.7%
Total	5.6	14.2	11.2	32.9	80.4%

Top Export Markets for Fish Fat and Oil from South Africa in 2022:

Denmark (5.3K tons)
Chile (1.8K tons)
United Kingdom (1.3K tons)
France (1.0K tons)
Spain (0.9K tons)
Norway (0.8K tons)
Germany (0.4K tons)
Australia (0.2K tons)

Imports of Fish Fat and Oil in South Africa

In 2022, imports of fish fats and oils into South Africa soared to 316 tons, jumping by 21% against 2021 figures. The total import volume increased at an average annual rate of +10.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 23%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, fish fat and oil imports expanded markedly to $1.6M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +8.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 37%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Import of Fish Fat and Oil in South Africa (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Norway	285	120	454	459	17.2%
France	195	153	234	241	7.3%
Morocco	N/A	N/A	N/A	223	0%
China	163	168	166	152	-2.3%
United States	203	86.8	97.4	138	-12.1%
Iceland	172	199	131	124	-10.3%
Namibia	1.0	N/A	N/A	106	373.3%
Belgium	N/A	89.0	4.9	71.8	-10.2%
Others	226	200	299	76.0	-30.5%
Total	1,244	1,015	1,386	1,590	8.5%

Top Suppliers of Fish Fat and Oil to South Africa in 2022:

Norway (86.3 tons)
Namibia (79.0 tons)
France (58.9 tons)
Morocco (32.0 tons)
Belgium (17.1 tons)
China (16.9 tons)
Iceland (15.6 tons)
United States (4.7 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for fish fat and oil 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:

Prodcom 10411200 - Fats and oils and their fractions of fish or marine mammals (excluding chemically modified)

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023