Angola: Refined Palm Oil Market 2024

Refined Palm Oil Market Size in Angola

In 2022, the Angolan refined palm oil market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, the total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Refined Palm Oil Exports

Exports from Angola

In 2022, the amount of refined palm oil exported from Angola fell sharply to X tons, which is down by X% compared with the previous year. Overall, exports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, refined palm oil exports surged to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Congo (X tons) was the main destination for refined palm oil exports from Angola, accounting for a X% share of total exports. It was followed by Portugal (X tons), with a X% share of total exports.

From 2015 to 2022, the average annual growth rate of volume to Congo was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (X% per year) and Democratic Republic of the Congo (X% per year).

In value terms, Congo ($X) emerged as the key foreign market for refined palm oil exports from Angola, comprising X% of total exports. The second position in the ranking was taken by Portugal ($X), with a X% share of total exports.

From 2015 to 2022, the average annual rate of growth in terms of value to Congo was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (X% per year) and Democratic Republic of the Congo (X% per year).

Export Prices by Country

In 2022, the average refined palm oil export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price saw a buoyant expansion. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (X%).

Refined Palm Oil Imports

Imports into Angola

In 2022, after two years of decline, there was significant growth in overseas purchases of refined palm oil, when their volume increased by X% to X tons. Over the period under review, imports, however, continue to indicate a slight reduction. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, refined palm oil imports soared to $X in 2022. Overall, imports recorded a tangible increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Indonesia (X tons), Malaysia (X tons) and Singapore (X tons) were the main suppliers of refined palm oil imports to Angola, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the largest refined palm oil suppliers to Angola were Malaysia ($X), Indonesia ($X) and Singapore ($X), with a combined X% share of total imports.

Among the main suppliers, Indonesia, 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 a decline.

Import Prices by Country

In 2022, the average refined palm oil import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined palm oil import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :