South Africa - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSouth Africa's Palm Oil Prices Drop Significantly to $951 per Ton
South Africa Palm Oil Import Price in February 2023
In February 2023, the palm oil price stood at $951 per ton (CIF, South Africa), waning by -7% against the previous month. In general, the import price saw a noticeable reduction. The most prominent rate of growth was recorded in April 2022 an increase of 15% against the previous month. The import price peaked at $1,673 per ton in June 2022; however, from July 2022 to February 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In February 2023, the country with the highest price was Malaysia ($959 per ton), while the price for Indonesia stood at $949 per ton.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Malaysia (-4.3%).
| COUNTRY | Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Import Price of Palm Oil in South Africa (USD per ton) | |||||||||||||
| Malaysia | 1,628 | 1,478 | 1,655 | 1,602 | 1,681 | 1,493 | 1,356 | 1,852 | 1,002 | 989 | 1,304 | 1,092 | 959 |
| Indonesia | 1,914 | 1,396 | 1,626 | 1,427 | 1,613 | 1,424 | 1,206 | 1,053 | 1,007 | 1,020 | 964 | 982 | 949 |
| Average | 1,573 | 1,418 | 1,634 | 1,481 | 1,673 | 1,432 | 1,220 | 1,112 | 1,005 | 1,018 | 970 | 1,023 | 951 |
South Africa Palm Oil Import Prices by Type
Prices varied noticeably by the product type; the product with the highest price was crude palm oil ($1,622 per ton), while the price for refined palm oil amounted to $947 per ton.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by crude palm oil (-0.0%).
South Africa Palm Oil Imports
In February 2023, after two months of decline, there was significant growth in overseas purchases of palm oil, when their volume increased by 220% to 39K tons. Overall, imports showed a significant expansion. The pace of growth appeared the most rapid in March 2022 when imports increased by 8,682% month-to-month.
In value terms, palm oil imports soared to $37M (IndexBox estimates) in February 2023. In general, imports recorded a significant increase. The pace of growth appeared the most rapid in March 2022 when imports increased by 7,812% month-to-month.
South Africa Palm Oil Imports by Type
In February 2023, refined palm oil (39K tons) was the main type of palm oil supplied to South Africa, accounting for a 99% share of total imports. It was followed by crude palm oil (239 tons), with a 0.6% share of total imports.
From February 2022 to February 2023, the average monthly growth rate of the volume of import of refined palm oil totaled +54.8%.
In value terms, refined palm oil ($37M) constituted the largest type of palm oil supplied to South Africa, comprising 99% of total imports. The second position in the ranking was held by crude palm oil ($388K), with a 1% share of total imports.
South Africa Palm Oil Imports by Country
In February 2023, Indonesia (29K tons) constituted the largest supplier of palm oil to South Africa, with a 74% share of total imports. Moreover, palm oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (10K tons), threefold.
From February 2022 to February 2023, the average monthly growth rate of volume from Indonesia stood at +62.5%.
In value terms, Indonesia ($27M) constituted the largest supplier of palm oil to South Africa, comprising 73% of total imports. The second position in the ranking was taken by Malaysia ($9.8M), with a 27% share of total imports.
From February 2022 to February 2023, the average monthly rate of growth in terms of value from Indonesia amounted to +53.3%.
This report provides an in-depth analysis of the palm oil market in South Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 257 - Oil of palm
Country coverage:
- South Africa
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in South Africa
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
