South Africa - Refined Palm Oil - Market Analysis, Forecast, Size, Trends And Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingRefined Palm Oil Price in South Africa - 2023
Contents:
- Refined Palm Oil Price in South Africa (CIF) - 2023
- Refined Palm Oil Price in South Africa (FOB) - 2023
- Refined Palm Oil Imports in South Africa
- Refined Palm Oil Exports in South Africa
Refined Palm Oil Price in South Africa (CIF) - 2023
In July 2023, the average refined palm oil import price amounted to $861 per ton, declining by -6.9% against the previous month. Overall, the import price continues to indicate a noticeable decline. The pace of growth was the most pronounced in January 2023 when the average import price increased by 3.6% m-o-m. The import price peaked at $1,431 per ton in July 2022; however, from August 2022 to July 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was Malaysia ($986 per ton), while the price for Indonesia amounted to $856 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Malaysia (-3.4%).
Refined Palm Oil Price in South Africa (FOB) - 2023
The average refined palm oil export price stood at $1,350 per ton in July 2023, rising by 9.5% against the previous month. In general, the export price, however, showed a noticeable downturn. Over the period under review, the average export prices hit record highs at $1,977 per ton in August 2022; however, from September 2022 to July 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In July 2023, the country with the highest price was Kenya ($2,204 per ton), while the average price for exports to Lesotho ($1,212 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (+35.1%), while the prices for the other major destinations experienced a decline.
Refined Palm Oil Imports in South Africa
In 2022, purchases abroad of refined palm oil increased by 8.1% to 512K tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.2% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, refined palm oil imports surged to $652M in 2022. Overall, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 56%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
| Import of Refined Palm Oil in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 175 | 210 | 391 | 511 | 42.9% |
| Malaysia | 89.0 | 112 | 113 | 139 | 16.0% |
| Others | 2.3 | 0.2 | 0.9 | 1.3 | -17.3% |
| Total | 266 | 323 | 505 | 652 | 34.8% |
Top Suppliers of Refined Palm Oil to South Africa in 2022:
- Indonesia (410.5K tons)
- Malaysia (100.6K tons)
Refined Palm Oil Exports in South Africa
In 2022, overseas shipments of refined palm oil decreased by -32.5% to 11K tons, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 37%. As a result, the exports reached the peak of 20K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, refined palm oil exports reduced to $20M in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +17.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. As a result, the exports reached the peak of $23M, and then fell in the following year.
| Export of Refined Palm Oil in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Zimbabwe | 4.9 | 6.3 | 10.6 | 10.6 | 29.3% |
| Zambia | 4.0 | 6.3 | 4.4 | 3.1 | -8.1% |
| Namibia | 0.5 | 0.5 | 1.0 | 1.5 | 44.2% |
| Botswana | 0.8 | 0.7 | 0.6 | 1.4 | 20.5% |
| Swaziland | 0.6 | 0.5 | 4.0 | 1.3 | 29.4% |
| Lesotho | 0.8 | 0.6 | 1.0 | 1.1 | 11.2% |
| Malawi | 0.2 | 0.1 | 0.2 | 0.3 | 14.5% |
| Others | 0.7 | 0.5 | 0.7 | 0.6 | -5.0% |
| Total | 12.4 | 15.5 | 22.6 | 19.9 | 17.1% |
Top Export Markets for Refined Palm Oil from South Africa in 2022:
- Zimbabwe (6.0K tons)
- Zambia (1.8K tons)
- Namibia (0.8K tons)
- Botswana (0.8K tons)
- Swaziland (0.7K tons)
- Lesotho (0.6K tons)
- Malawi (0.2K tons)
This report provides an in-depth analysis of the refined 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:
- Prodcom 10415700 - Refined palm oil and its fractions (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
- 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
-
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
-
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
-
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
-
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
-
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
-
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
455
This report provides an in-depth analysis of the refined palm oil market in South Africa.
585
This report provides an in-depth analysis of the palm oil market in South Africa.
411
This report provides an in-depth analysis of the palm fruit oil market in South Africa.
1768
This report provides an in-depth analysis of the crude palm oil market in South Africa.
499
This report provides an in-depth analysis of the transmission shaft market in South Africa.
560
This report provides an in-depth analysis of the linseed oil market in South Africa.
445
This report provides an in-depth analysis of the surgical glove market in South Africa.
430
This report provides an in-depth analysis of the market for caustic soda in the solid form in South Africa.
415
This report provides an in-depth analysis of the market for reaction initiators and accelerators in South Africa.
413
This report provides an in-depth analysis of the hard plastic comb market in South Africa.
297
In terms of value, the imports of Refined Palm Oil saw a slight decline to $38M in July 2023.
369
In Feb 2023, palm oil prices were recorded at $951/ton CIF in South Africa, indicating a decrease of -7% compared to the previous month.
310
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.
239
In November 2022, there was a notable growth rate when it comes to imports of Transmission Shafts, with a 39% increase compared to the previous month. In terms of value, the imports of Transmission Shafts rose slightly to $28M in October 2023.
357
Learn about the top five import markets for palm oil and their respective import values in 2022. India ranks as the largest importer, followed by China, Pakistan, the United States, and the Netherlands. These countries exhibit significant demand for palm oil due to various factors such as population size, dietary preferences, and industrial applications. Understanding the dynamics of these import markets is crucial for palm oil producers, traders, and other stakeholders in the industry. Get comprehensive insights into the global palm oil market with IndexBox's recent market report.
980
While Indonesia, planning to expand production, fights for the EU's recognition of palm oil as a biofuel, Malaysia is faced with an acute shortage of labor due to the outflow of guest workers after the pandemic.
1927
In 2015, the countries with the highest levels of palm fruit oil production were Indonesia (X thousand tons), Malaysia (X thousand tons), Thailand (X thousand tons), together accounting for X% of total output.
220
Explore the top import markets for crude palm oil and the key statistics in the global industry. Learn about the leading countries, import values, and trends.
938
The global palm oil market revenue amounted to $48B in 2017, surging by 10% against the previous year. This figure reflect...
6040
The global palm oil market increased from X tons in 2007 to X tons in 2016, expanding with an annual average growth rate of +X% per year over that period.
