South Africa: Palm Kernel Oil Market Overview 2021

Palm Kernel Oil Market Size in South Africa

In 2020, the South African palm kernel oil market was finally on the rise to reach $X after three years of decline. Overall, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Palm kernel oil consumption peaked at $X in 2011; however, from 2012 to 2020, consumption stood at a somewhat lower figure.

Palm Kernel Oil Exports

Exports from South Africa

In 2020, overseas shipments of palm kernel and babassu oil decreased by -X% to X tonnes, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2017 when exports increased by X% year-to-year. Exports peaked at X tonnes in 2007; however, from 2008 to 2020, exports stood at a somewhat lower figure.

In value terms, palm kernel oil exports declined markedly to $X in 2020. Overall, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Exports peaked at $X in 2010; however, from 2011 to 2020, exports remained at a lower figure.

Exports by Country

Zimbabwe (X tonnes) was the main destination for palm kernel oil exports from South Africa, with a X% share of total exports. It was followed by Zambia (X tonnes), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of volume to Zimbabwe amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (-X% per year) and Botswana (+X% per year).

In value terms, Zimbabwe ($X) remains the key foreign market for palm kernel oil exports from South Africa, comprising X% of total exports. The second position in the ranking was occupied by Botswana ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to Zimbabwe totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (+X% per year) and Zambia (-X% per year).

Export Prices by Country

In 2020, the average palm kernel oil export price amounted to $X per tonne, growing by X% against the previous year. Over the last thirteen years, it increased at an average annual rate of +X%. Over the period under review, average export prices hit record highs at $X per tonne in 2014; however, from 2015 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Botswana ($X per tonne), while the average price for exports to Zambia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Botswana, while the prices for the other major destinations experienced mixed trend patterns.

Palm Kernel Oil Imports

Imports into South Africa

In 2020, the amount of palm kernel and babassu oil imported into South Africa totaled X tonnes, approximately mirroring the year before. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 when imports increased by X% y-o-y. As a result, imports reached the peak of X tonnes. from 2009 to 2020, the growth imports remained at a lower figure.

In value terms, palm kernel oil imports expanded markedly to $X in 2020. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2011; however, from 2012 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Indonesia (X tonnes) constituted the largest palm kernel oil supplier to South Africa, with a X% share of total imports. Moreover, palm kernel oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tonnes), sixfold.

From 2007 to 2020, the average annual growth rate of volume from Indonesia amounted to +X%.

In value terms, Indonesia ($X) constituted the largest supplier of palm kernel oil to South Africa, comprising X% of total imports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total imports.

From 2007 to 2020, the average annual growth rate of value from Indonesia amounted to +X%.

Import Prices by Country

In 2020, the average palm kernel oil import price amounted to $X per tonne, growing by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% y-o-y. The import price peaked at $X per tonne in 2011; however, from 2012 to 2020, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2020, the country with the highest price was Malaysia ($X per tonne), while the price for Indonesia totaled $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Indonesia.

Source: IndexBox Platform