South Africa: Maize Oil Market 2024

Maize Oil Market Size in South Africa

In 2022, the South African maize oil market decreased by X% to $X, falling for the third year in a row after four years of growth. In general, consumption showed a noticeable downturn. Maize oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Maize Oil Production in South Africa

In value terms, maize oil production stood at $X in 2022 estimated in export price. In general, production continues to indicate a noticeable slump. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Maize oil production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Maize Oil Exports

Exports from South Africa

In 2022, shipments abroad of maize oil increased by X% to X tons, rising for the third consecutive year after three years of decline. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, maize oil exports surged to $X in 2022. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2020 with an increase of X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Saudi Arabia (X tons) was the main destination for maize oil exports from South Africa, accounting for a X% share of total exports. Moreover, maize oil exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), tenfold. The third position in this ranking was held by Sri Lanka (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Sri Lanka (X% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for maize oil exports from South Africa, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an X% share of total exports. It was followed by Sri Lanka, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Sri Lanka (X% per year).

Export Prices by Country

In 2022, the average maize oil export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price posted a noticeable increase. The pace of growth was the most pronounced in 2016 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Malaysia ($X per ton) and the United Arab Emirates ($X per ton), while the average price for exports to Jordan ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

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

Maize Oil Imports

Imports into South Africa

In 2022, purchases abroad of maize oil increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports posted significant growth. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, maize oil imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2018 with an increase of X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Lesotho (X tons) constituted the largest supplier of maize oil to South Africa, with a X% share of total imports. Moreover, maize oil imports from Lesotho exceeded the figures recorded by the second-largest supplier, India (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from Lesotho totaled X%.

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

From 2012 to 2022, the average annual growth rate of value from India stood at X%.

Import Prices by Country

In 2022, the average maize oil import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price saw a significant contraction. The pace of growth appeared the most rapid in 2016 when the average import price increased by X%. The import price peaked 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 supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Lesotho totaled $X per ton.

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

Source: IndexBox Platform

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