SADC: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in SADC

In 2022, the SADC refined soybean oil market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption showed a pronounced shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refined Soybean Oil Production in SADC

In value terms, refined soybean oil production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Refined Soybean Oil Exports

Exports in SADC

In 2022, approx. X tons of refined soybean oil and its fractions were exported in SADC; waning by X% compared with 2021 figures. Over the period under review, exports recorded a abrupt decline. 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 hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined soybean oil exports skyrocketed to $X in 2022. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa represented the key exporter of refined soybean oil and its fractions in SADC, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. Mozambique (X tons) ranks second in terms of the total exports with a X% share, followed by Zambia (X%).

From 2012 to 2022, average annual rates of growth with regard to refined soybean oil exports from South Africa stood at X%. At the same time, Zambia (X%) and Mozambique (X%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in SADC, with a CAGR of X% from 2012-2022. While the share of Mozambique (X p.p.) and Zambia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Africa (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Mozambique (X% per year) and Zambia (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. Over the period under review, the export price showed perceptible growth. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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

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

Refined Soybean Oil Imports

Imports in SADC

In 2022, approx. X tons of refined soybean oil and its fractions were imported in SADC; declining by X% compared with the year before. In general, imports recorded a deep slump. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, refined soybean oil imports surged to $X in 2022. Over the period under review, imports saw a pronounced downturn. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Angola represented the key importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by South Africa (X tons), achieving a X% share of total imports. Madagascar (X tons) and Mauritius (X tons) held a minor share of total imports.

Angola experienced a relatively flat trend pattern with regard to volume of imports of refined soybean oil and its fractions. At the same time, Mauritius (X%) and Madagascar (X%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2022. By contrast, South Africa (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Angola, Madagascar and Mauritius increased by X, X and X percentage points, respectively.

In value terms, Angola ($X) constitutes the largest market for imported refined soybean oil and its fractions in SADC, comprising X% of total imports. The second position in the ranking was held by South Africa ($X), with a X% share of total imports. It was followed by Madagascar, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Angola totaled X%. In the other countries, the average annual rates were as follows: South Africa (X% per year) and Madagascar (X% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price posted pronounced growth. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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