South Africa: Refined Rapeseed Oil Market 2024

Refined Rapeseed Oil Market Size in South Africa

The South African refined rapeseed oil market rose modestly to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption, however, showed a pronounced decrease. Refined rapeseed oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refined Rapeseed Oil Production in South Africa

In value terms, refined rapeseed oil production expanded slightly to $X in 2022 estimated in export price. In general, production, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2016 with an increase of X%. Refined rapeseed oil production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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Refined Rapeseed Oil Exports

Exports from South Africa

In 2022, shipments abroad of refined rape, colza or mustard oil increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, refined rapeseed oil exports skyrocketed to $X in 2022. Over the period under review, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for refined rapeseed oil exports from South Africa, with a X% share of total exports. Moreover, refined rapeseed oil exports to the UK exceeded the volume sent to the second major destination, Kenya (X tons), sevenfold. The third position in this ranking was held by Swaziland (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the UK amounted to X.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (X% per year) and Swaziland (X% per year).

In value terms, the UK ($X) emerged as the key foreign market for refined rape, colza or mustard oil exports from South Africa, comprising X% of total exports. The second position in the ranking was taken by Kenya ($X), with an X% share of total exports. It was followed by Swaziland, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK totaled X.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (X% per year) and Swaziland (X% per year).

Export Prices by Country

In 2022, the average refined rapeseed oil export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price continues to indicate a slight decline. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to the UK ($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 Sri Lanka (X%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports

Imports into South Africa

In 2022, purchases abroad of refined rape, colza or mustard oil increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, saw a deep reduction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, refined rapeseed oil imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a abrupt setback. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of refined rapeseed oil imports to South Africa, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of refined rape, colza or mustard oil to South Africa, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

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

Import Prices by Country

The average refined rapeseed oil import price stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the import price, however, showed a slight decrease. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 France ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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