SADC: Refined Groundnut Oil Market 2024

Refined Groundnut Oil Market Size in SADC

The SADC refined groundnut oil market declined to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, enjoyed a resilient increase. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Refined Groundnut Oil Production in SADC

In value terms, refined groundnut oil production fell to $X in 2022 estimated in export price. Overall, production, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Refined Groundnut Oil Exports

Exports in SADC

In 2022, shipments abroad of refined groundnut oil was finally on the rise to reach X tons after five years of decline. Overall, exports, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined groundnut oil exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable decline. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

South Africa dominates exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Tanzania (X tons), generating a X% share of total exports. Mozambique (X tons) followed a long way behind the leaders.

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

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

In South Africa, refined groundnut oil exports declined by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Tanzania (X% per year) and Mozambique (X% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, growing by X% against the previous year. Export price indicated a modest 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 groundnut oil export price increased by X% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (X%), while the other leaders experienced mixed trends in the export price figures.

Refined Groundnut Oil Imports

Imports in SADC

In 2022, supplies from abroad of refined groundnut oil increased by X% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, refined groundnut oil imports skyrocketed to $X in 2022. Overall, imports recorded prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Democratic Republic of the Congo represented the main importer of refined groundnut oil in SADC, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Botswana (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by South Africa (X%) and Lesotho (X%). The following importers - Tanzania (X tons) and Swaziland (X tons) - each resulted at a X% share of total imports.

Imports into Democratic Republic of the Congo increased at an average annual rate of X% from 2012 to 2022. At the same time, South Africa (X%), Tanzania (X%), Swaziland (X%), Lesotho (X%) and Botswana (X%) displayed positive paces of growth. Moreover, South Africa emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2022. Democratic Republic of the Congo (X p.p.) and South Africa (X p.p.) significantly strengthened its position in terms of the total imports, while Lesotho and Botswana saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Democratic Republic of the Congo ($X), South Africa ($X) and Botswana ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

South Africa, with a CAGR of X%, recorded 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 2022, the import price in SADC amounted to $X per ton, stabilizing at the previous year. Over the period under review, the import price, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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