South Africa: Oil Crops Market 2024

Oil Crops Market Size in South Africa

The South African oil crops market shrank slightly to $X in 2022, declining by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Oil Crops Production in South Africa

In value terms, oil crops production amounted to $X in 2022 estimated in export price. In general, the total production indicated a remarkable increase 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 pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Oil crops production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

In 2022, the average oil crops yield in South Africa dropped to X tons per ha, waning by X% on the previous year. Overall, the yield indicated temperate growth from 2012 to 2022: its figure 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, oil crops yield increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The oil crops yield peaked at X tons per ha in 2021, and then dropped in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The oil crops harvested area in South Africa shrank slightly to X ha in 2022, waning by X% on the previous year. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2019 to 2022, the growth of the oil crops harvested area remained at a somewhat lower figure.

Oil Crops Exports

Exports from South Africa

In 2022, overseas shipments of oil crops (primary) increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports saw a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, oil crops exports skyrocketed to $X in 2022. Overall, exports saw resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Malaysia (X tons), Mozambique (X tons) and Germany (X tons) were the main destinations of oil crops exports from South Africa, together comprising X% of total exports. Vietnam, Zimbabwe and Thailand lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Mozambique ($X) and Germany ($X) appeared to be the largest markets for oil crops exported from South Africa worldwide, with a combined X% share of total exports. Zimbabwe, Vietnam and Thailand lagged somewhat behind, together accounting for a further X%.

Thailand, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average oil crops export price amounted to $X per ton, flattening at the previous year. Over the period under review, the export price continues to indicate tangible growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Germany ($X per ton) and Zimbabwe ($X per ton), while the average price for exports to Thailand ($X per ton) and Vietnam ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into South Africa

In 2022, after two years of growth, there was significant decline in purchases abroad of oil crops (primary), when their volume decreased by X% to X tons. Overall, imports recorded a drastic downturn. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, oil crops imports declined notably to $X in 2022. In general, imports showed a perceptible reduction. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Zambia (X tons), Botswana (X tons) and Malawi (X tons) were the main suppliers of oil crops imports to South Africa, with a combined X% share of total imports. Mozambique, India, Ukraine, Canada, Namibia and Romania lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Botswana ($X), Zambia ($X) and India ($X) appeared to be the largest oil crops suppliers to South Africa, together accounting for X% of total imports. Malawi, Mozambique, Canada, Ukraine, Namibia and Romania lagged somewhat behind, together accounting for a further X%.

Ukraine, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average oil crops import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price showed a prominent increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

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 Romania ($X per ton), while the price for Malawi ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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