Africa: Chemically Modified Oils Market 2023

Chemically Modified Oils Market Size in Africa

After five years of growth, the African chemically modified oils market decreased by -4.5% to $X in 2021. The total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +49.0% against 2015 indices. The level of consumption peaked at $X in 2020, and then shrank modestly in the following year.

Chemically Modified Oils Production in Africa

In value terms, chemically modified oils production declined to $X in 2021 estimated in export price. The total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +53.0% against 2015 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 25%. As a result, production reached the peak level of $X, and then fell in the following year.

Chemically Modified Oils Exports

Exports in Africa

After four years of growth, shipments abroad of animal or vegetable fats and oils chemically modified decreased by -44.6% to X tons in 2021. Overall, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by 112%. As a result, the exports reached the peak of X tons, and then dropped sharply in the following year.

In value terms, chemically modified oils exports reduced sharply to $X in 2021. Over the period under review, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of 205% against the previous year. As a result, the exports reached the peak of $X, and then contracted rapidly in the following year.

Exports by Country

South Africa (X tons) and Egypt (X tons) represented roughly 81% of total exports in 2021. It was distantly followed by Morocco (X tons), comprising an 11% share of total exports. Kenya (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Kenya (with a CAGR of +46.6%), while the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Egypt ($X) and Morocco ($X) were the countries with the highest levels of exports in 2021, together accounting for 94% of total exports. Kenya lagged somewhat behind, accounting for a further 1.9%.

Kenya, with a CAGR of +49.3%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, increasing by 45% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Egypt ($X per ton), while Kenya ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Chemically Modified Oils Imports

Imports in Africa

In 2021, the amount of animal or vegetable fats and oils chemically modified imported in Africa declined dramatically to X tons, with a decrease of -24.3% on the year before. In general, imports saw a pronounced descent. The most prominent rate of growth was recorded in 2019 when imports increased by 34% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, chemically modified oils imports dropped to $X in 2021. Over the period under review, imports continue to indicate a deep setback. The growth pace was the most rapid in 2015 with an increase of 9.4% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Egypt (X tons) and South Africa (X tons) represented the major importers of animal or vegetable fats and oils chemically modified in 2021, resulting at near 28% and 20% of total imports, respectively. Mozambique (X tons) held a 6.9% share (based on physical terms) of total imports, which put it in second place, followed by Somalia (4.8%) and Senegal (4.5%). The following importers - Ethiopia (X tons), Morocco (X tons), Madagascar (X tons), Burundi (X tons), Burkina Faso (X tons), Tanzania (X tons) and Cote d'Ivoire (X tons) - together made up 20% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Senegal (with a CAGR of +77.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Egypt ($X) and Morocco ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 57% of total imports. These countries were followed by Ethiopia, Somalia, Senegal, Burundi, Burkina Faso, Cote d'Ivoire, Tanzania, Mozambique and Madagascar, which together accounted for a further 26%.

Tanzania, with a CAGR of +56.0%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, rising by 30% against the previous year. Over the period under review, the import price, however, showed a pronounced reduction. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Morocco ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Somalia (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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