Africa: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in Africa

The African crude soybean oil market totaled $X in 2022, with an increase of X% against the previous year. The total consumption indicated a buoyant 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, consumption increased by X% against 2020 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in years to come.

Crude Soybean Oil Production in Africa

In value terms, crude soybean oil production rose to $X in 2022 estimated in export price. The total production indicated a moderate expansion 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 was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Crude Soybean Oil Exports

Exports in Africa

In 2022, shipments abroad of crude soybean oil decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, exports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude soybean oil exports shrank markedly to $X in 2022. Overall, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then fell remarkably in the following year.

Exports by Country

South Africa was the key exporter of crude soybean oil in Africa, with the volume of exports recording X tons, which was near X% of total exports in 2022. It was distantly followed by Egypt (X tons), making up a X% share of total exports. The following exporters - Madagascar (X tons) and Togo (X tons) - each recorded a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to crude soybean oil exports from South Africa stood at X%. At the same time, Togo (X%), Madagascar (X%) and Egypt (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of South Africa, Madagascar and Togo increased by X, X and X percentage points, respectively.

In value terms, South Africa ($X) emerged as the largest crude soybean oil supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Egypt ($X), with a X% share of total exports. It was followed by Madagascar, with a X% share.

In South Africa, crude soybean oil exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (X% per year) and Madagascar (X% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, growing by X% against the previous year. Export price indicated a notable expansion 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, crude soybean oil export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Madagascar ($X per ton) and South Africa ($X per ton), while Togo ($X per ton) and Egypt ($X per ton) were amongst the lowest.

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

Crude Soybean Oil Imports

Imports in Africa

In 2022, imports of crude soybean oil in Africa rose rapidly to X tons, picking up by X% on 2021. Total imports indicated a moderate 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. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, crude soybean oil imports expanded sharply to $X in 2022. Total imports indicated a strong expansion 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Algeria represented the largest importer of crude soybean oil in Africa, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Morocco (X tons) took the second position in the ranking, distantly followed by Zimbabwe (X tons) and Tunisia (X tons). All these countries together took near X% share of total imports. The following importers - Egypt (X tons), Mozambique (X tons) and Madagascar (X tons) - together made up X% of total imports.

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

In value terms, the largest crude soybean oil importing markets in Africa were Algeria ($X), Morocco ($X) and Zimbabwe ($X), with a combined X% share of total imports.

In terms of the main importing countries, Zimbabwe, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, import prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Zimbabwe ($X per ton), while Algeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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