SADC: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in SADC

For the fifth consecutive year, the SADC crude soybean oil market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption saw prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Crude Soybean Oil Production in SADC

In value terms, crude soybean oil production rose to $X in 2022 estimated in export price. The total production indicated resilient 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. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Crude Soybean Oil Exports

Exports in SADC

After two years of growth, shipments abroad of crude soybean oil decreased by X% to X tons in 2022. In general, exports, however, showed buoyant growth. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then fell in the following year.

In value terms, crude soybean oil exports reached $X in 2022. Overall, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

South Africa dominates exports structure, resulting at X tons, which was near X% of total exports in 2022. Madagascar (X tons) took a little share of total exports.

Exports from South Africa increased at an average annual rate of X% from 2012 to 2022. At the same time, Madagascar (X%) displayed positive paces of growth. Moreover, Madagascar emerged as the fastest-growing exporter exported in SADC, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of South Africa and Madagascar increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest crude soybean oil supplier in SADC, comprising X% of total exports. The second position in the ranking was taken by Madagascar ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in South Africa stood at X%.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, jumping by X% against the previous year. Export price indicated a mild increase 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, crude soybean oil export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Madagascar ($X per ton), while South Africa amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (X%).

Crude Soybean Oil Imports

Imports in SADC

In 2022, overseas purchases of crude soybean oil increased by X% to X tons, rising for the fourth year in a row after two years of decline. In general, imports showed a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, crude soybean oil imports surged to $X in 2022. Over the period under review, imports posted a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Zimbabwe represented the major importer of crude soybean oil in SADC, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2022. Mozambique (X tons) took the second position in the ranking, followed by Madagascar (X tons), Zambia (X tons), Mauritius (X tons) and South Africa (X tons). All these countries together held approx. X% share of total imports. Angola (X tons) followed a long way behind the leaders.

Zimbabwe was also the fastest-growing in terms of the crude soybean oil imports, with a CAGR of X% from 2012 to 2022. At the same time, Mozambique (X%), Madagascar (X%), Zambia (X%) and Angola (X%) displayed positive paces of growth. Mauritius experienced a relatively flat trend pattern. By contrast, South Africa (X%) illustrated a downward trend over the same period. Zimbabwe (X p.p.), Mozambique (X p.p.) and Madagascar (X p.p.) significantly strengthened its position in terms of the total imports, while Angola, Zambia, Mauritius and South Africa saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively.

In value terms, Zimbabwe ($X) constitutes the largest market for imported crude soybean oil in SADC, comprising X% of total imports. The second position in the ranking was taken by Mozambique ($X), with a X% share of total imports. It was followed by Madagascar, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Zimbabwe amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Mozambique (X% per year) and Madagascar (X% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, picking up by X% against the previous year. In general, the import price recorded tangible growth. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Zimbabwe ($X per ton) and Madagascar ($X per ton), while Angola ($X per ton) and Mauritius ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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