South Africa: Linseed Oil Market 2024

Linseed Oil Market Size in South Africa

The South African linseed oil market was finally on the rise to reach $X in 2022, after three years of decline. Overall, consumption, however, continues to indicate a deep downturn. Linseed oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Linseed Oil Exports

Exports from South Africa

After four years of growth, overseas shipments of linseed oil decreased by X% to X tons in 2022. In general, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined sharply in the following year.

In value terms, linseed oil exports declined markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then declined notably in the following year.

Exports by Country

Botswana (X tons) was the main destination for linseed oil exports from South Africa, with a X% share of total exports. Moreover, linseed oil exports to Botswana exceeded the volume sent to the second major destination, Namibia (X tons), twofold. Lesotho (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Botswana stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (X% per year) and Lesotho (X% per year).

In value terms, Botswana ($X), Namibia ($X) and Lesotho ($X) were the largest markets for linseed oil exported from South Africa worldwide, together comprising X% of total exports.

In terms of the main countries of destination, Botswana, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average linseed oil export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, export price indicated moderate growth 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, linseed oil export price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Linseed Oil Imports

Imports into South Africa

In 2022, approx. X tons of linseed oil were imported into South Africa; waning by X% compared with the year before. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, linseed oil imports stood at $X in 2022. Over the period under review, imports continue to indicate a pronounced downturn. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Belgium (X tons) was the main linseed oil supplier to South Africa, accounting for a X% share of total imports. It was followed by the Netherlands (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and the United States (X% per year).

In value terms, Belgium ($X) constituted the largest supplier of linseed oil to South Africa, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average linseed oil import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price recorded moderate growth. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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