South Africa - Soybean Oilcake - Market Analysis, Forecast, Size, Trends And Insights
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View PricingDecline in South Africa's Soybean Oilcake Export to $59M by 2023
South Africa Soybean Oilcake Exports
In 2023, after five years of growth, there was significant decline in shipments abroad of soybean oilcake, when their volume decreased by -34.3% to 120K tons. Overall, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2015 when exports increased by 57%. Over the period under review, the exports attained the peak figure at 182K tons in 2022, and then shrank sharply in the following year.
In value terms, soybean oilcake exports fell remarkably to $59M (IndexBox estimates) in 2023. In general, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 57%. Over the period under review, the exports hit record highs at $97M in 2022, and then contracted markedly in the following year.
| COUNTRY | Export Value of Soybean Oilcake in South Africa (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Swaziland | 6.2 | 7.6 | 6.3 | 5.8 | 5.8 | 11.7 | 13.1 | 14.2 | 19.7 | 20.2 | 19.2 |
| Mozambique | 3.6 | 5.6 | 5.8 | 5.1 | 3.2 | 3.3 | 5.8 | 8.4 | 12.1 | 15.4 | 18.4 |
| Botswana | 4.2 | 8.3 | 11.0 | 8.7 | 10.0 | 10.4 | 14.0 | 14.2 | 15.9 | 18.5 | 17.8 |
| Namibia | 8.1 | 5.7 | 7.0 | 6.5 | 3.2 | 3.3 | 8.1 | 4.5 | 6.5 | 10.5 | 1.7 |
| Zimbabwe | N/A | N/A | 7.4 | 32.0 | 2.6 | N/A | 0.1 | 2.4 | 14.1 | 31.2 | 1.0 |
| Lesotho | 2.3 | 1.6 | 0.7 | 0.7 | 0.5 | 0.9 | 0.8 | 0.8 | 1.2 | 0.8 | 0.6 |
| Others | 0.3 | 0.1 | 0.5 | 0.5 | 1.3 | 1.4 | 2.0 | 0.6 | 1.2 | 0.8 | 0.1 |
| Total | 24.7 | 28.9 | 38.8 | 59.2 | 26.6 | 31.0 | 43.9 | 45.2 | 70.7 | 97.3 | 58.7 |
Exports by Country
Swaziland (42K tons), Botswana (36K tons) and Mozambique (35K tons) were the main destinations of soybean oilcake exports from South Africa, together accounting for 95% of total exports. Namibia, Zimbabwe and Lesotho lagged somewhat behind, together accounting for a further 4.8%.
From 2013 to 2023, the biggest increases were recorded for Zimbabwe (with a CAGR of +49.9%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Swaziland ($19M), Mozambique ($18M) and Botswana ($18M) were the largest markets for soybean oilcake exported from South Africa worldwide, with a combined 94% share of total exports. Namibia, Zimbabwe and Lesotho lagged somewhat behind, together accounting for a further 5.5%.
Among the main countries of destination, Zimbabwe, with a CAGR of +44.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the soybean oilcake price stood at $491 per ton (FOB, South Africa), reducing by -8.2% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 24% against the previous year. Over the period under review, the average export prices attained the maximum at $581 per ton in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.
Average prices varied somewhat for the major external markets. In 2023, amid the top suppliers, the countries with the highest prices were Namibia ($588 per ton) and Zimbabwe ($542 per ton), while the average price for exports to Swaziland ($454 per ton) and Botswana ($490 per ton) were amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Botswana (+1.6%), while the prices for the other major destinations experienced mixed trend patterns.
This report provides an in-depth analysis of the soybean oilcake 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:
- Prodcom 10414130 - Oilcake and other solid residues resulting from the extraction of soya-bean oil
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 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- 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 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- 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, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
