South Africa: Refined Coconut Oil Market 2024

Refined Coconut Oil Market Size in South Africa

After three years of decline, the South African refined coconut oil market increased by X% to $X in 2022. Over the period under review, consumption, however, saw a pronounced descent. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Refined Coconut Oil Production in South Africa

In value terms, refined coconut oil production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

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Refined Coconut Oil Exports

Exports from South Africa

In 2022, approx. X tons of refined coconut (copra) oil were exported from South Africa; growing by X% against the year before. Overall, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, refined coconut oil exports soared to $X in 2022. Over the period under review, total exports indicated buoyant growth 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

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

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

In value terms, Zimbabwe ($X) remains the key foreign market for refined coconut (copra) oil exports from South Africa, comprising X% of total exports. The second position in the ranking was held by Namibia ($X), with an X% share of total exports. It was followed by Botswana, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Zimbabwe amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (X% per year) and Botswana (X% per year).

Export Prices by Country

The average refined coconut oil export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Zambia ($X per ton) and Malawi ($X per ton), while the average price for exports to Namibia ($X per ton) and Zimbabwe ($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 Mozambique (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Coconut Oil Imports

Imports into South Africa

In 2022, supplies from abroad of refined coconut (copra) oil increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, total imports indicated a resilient expansion from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, refined coconut oil imports surged to $X in 2022. Overall, imports enjoyed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of refined coconut oil to South Africa, accounting for a X% share of total imports. Moreover, refined coconut oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, the Philippines (X tons), fourfold. The third position in this ranking was taken by Malaysia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and Malaysia (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of refined coconut (copra) oil to South Africa, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with an X% share of total imports. It was followed by the Philippines, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the Philippines (X% per year).

Import Prices by Country

The average refined coconut oil import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, import price indicated a resilient increase 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, refined coconut oil import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and Mozambique ($X per ton), while the price for the Philippines ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

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 more modest paces of growth.

Source: IndexBox Platform

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