Africa: Oleo Oils Market 2022

Oleo Oils Market Size in Africa

In 2021, after two years of growth, there was decline in the African oleo oils market, when its value decreased by -X% to $X. Overall, consumption, however, posted buoyant growth. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Oleo Oils Production in Africa

In value terms, oleo oils production declined to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. The level of production peaked at $X in 2020, and then reduced in the following year.

Oleo Oils Exports

Exports in Africa

In 2021, approx. X tons of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil were exported in Africa; picking up by X% against the previous year. In general, exports, however, continue to indicate a noticeable shrinkage. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, oleo oils exports surged to $X in 2021. Overall, exports, however, showed a perceptible slump. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Senegal represented the main exporter of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Africa, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2021. Namibia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by South Africa (X%) and Botswana (X%). Egypt (X tons) and Ghana (X tons) followed a long way behind the leaders.

Senegal experienced a relatively flat trend pattern with regard to volume of exports of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil. At the same time, Ghana (+X%) and Botswana (+X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Africa, with a CAGR of +X% from 2012-2021. By contrast, South Africa (-X%), Namibia (-X%) and Egypt (-X%) illustrated a downward trend over the same period. While the share of Senegal (+X p.p.), Botswana (+X p.p.) and Ghana (+X p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Egypt (-X p.p.), South Africa (-X p.p.) and Namibia (-X p.p.) displayed negative dynamics.

In value terms, Senegal ($X) emerged as the largest oleo oils supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Namibia ($X), with a X% share of total exports. It was followed by South Africa, with a X% share.

In Senegal, oleo oils exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Namibia (-X% per year) and South Africa (-X% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Senegal ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Namibia (+X%), while the other leaders experienced a decline in the export price figures.

Oleo Oils Imports

Imports in Africa

In 2021, after three years of decline, there was significant growth in purchases abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil, when their volume increased by X% to X tons. Overall, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2015 when imports increased by X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, oleo oils imports skyrocketed to $X in 2021. In general, imports, however, recorded a dramatic curtailment. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Sudan represented the largest importing country with an import of around X tons, which accounted for X% of total imports. Zambia (X tons) ranks second in terms of the total imports with a X% share, followed by Togo (X%) and Nigeria (X%). Cabo Verde (X tons), Mauritania (X tons) and Mozambique (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to oleo oils imports into Sudan stood at +X%. At the same time, Togo (+X%) and Cabo Verde (+X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Africa, with a CAGR of +X% from 2012-2021. By contrast, Zambia (-X%), Mozambique (-X%), Nigeria (-X%) and Mauritania (-X%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Sudan, Togo, Zambia, Cabo Verde and Mauritania increased by +X, +X, +X, +X and +X percentage points, respectively. Mozambique (-X p.p.) and Nigeria (-X p.p.) saw their shares reduced.

In value terms, the largest oleo oils importing markets in Africa were Sudan ($X), Nigeria ($X) and Zambia ($X), with a combined X% share of total imports. Togo, Cabo Verde, Mauritania and Mozambique lagged somewhat behind, together comprising a further X terms of the main importing countries, Togo, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, which is down by -X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Market Intelligence Platform

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