Africa: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Africa

The African chemically modified oils market declined modestly to $X in 2022, flattening at the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.1% against 2019 indices. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2022.

Chemically Modified Oils Production in Africa

In value terms, chemically modified oils production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate a resilient expansion. The growth pace was the most rapid in 2019 when the production volume increased by 30%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Chemically Modified Oils Exports

Exports in Africa

In 2022, approx. X tons of animal or vegetable fats and oils chemically modified were exported in Africa; growing by 1.5% on 2021. In general, exports saw resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 118%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, chemically modified oils exports surged to $X in 2022. Overall, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of 213% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

South Africa (X tons) and Egypt (X tons) were the major exporters of animal or vegetable fats and oils chemically modified in 2022, amounting to approx. 46% and 34% of total exports, respectively. It was distantly followed by Morocco (X tons), making up a 14% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by South Africa (with a CAGR of +22.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest chemically modified oils supplying countries in Africa were South Africa ($X), Egypt ($X) and Morocco ($X), with a combined 96% share of total exports.

Egypt, with a CAGR of +21.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, jumping by 24% against the previous year. Overall, the export price saw a moderate increase. The most prominent rate of growth was recorded in 2021 when the export price increased by 45%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+5.5%), while the other leaders experienced mixed trends in the export price figures.

Chemically Modified Oils Imports

Imports in Africa

For the third year in a row, Africa recorded decline in purchases abroad of animal or vegetable fats and oils chemically modified, which decreased by -1.9% to X tons in 2022. Overall, imports continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by 36% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, chemically modified oils imports expanded to $X in 2022. In general, imports showed a pronounced setback. The most prominent rate of growth was recorded in 2021 when imports increased by 15% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Egypt (X tons) was the main importer of animal or vegetable fats and oils chemically modified, making up 37% of total imports. South Africa (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Somalia (6.1%) and Madagascar (5.9%). Malawi (X tons), Burkina Faso (X tons), Algeria (X tons), Morocco (X tons), Ethiopia (X tons), Sudan (X tons), Cote d'Ivoire (X tons), Mozambique (X tons) and Nigeria (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to chemically modified oils imports into Egypt stood at +9.5%. At the same time, Mozambique (+37.8%), Malawi (+21.5%), Burkina Faso (+20.6%), Algeria (+18.9%), Somalia (+18.5%), Ethiopia (+13.2%), Sudan (+10.9%), Madagascar (+2.3%), Cote d'Ivoire (+1.6%) and South Africa (+1.2%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in Africa, with a CAGR of +37.8% from 2012-2022. Morocco experienced a relatively flat trend pattern. By contrast, Nigeria (-21.4%) illustrated a downward trend over the same period. Egypt (+27 p.p.), Somalia (+5.3 p.p.), South Africa (+4.4 p.p.), Malawi (+4 p.p.), Burkina Faso (+3.8 p.p.), Algeria (+3.4 p.p.), Madagascar (+2.6 p.p.), Ethiopia (+2.2 p.p.), Mozambique (+1.9 p.p.) and Sudan (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -10.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Egypt ($X) constitutes the largest market for imported animal or vegetable fats and oils chemically modified in Africa, comprising 39% of total imports. The second position in the ranking was taken by South Africa ($X), with an 18% share of total imports. It was followed by Morocco, with a 7% share.

In Egypt, chemically modified oils imports increased at an average annual rate of +8.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Africa (+1.1% per year) and Morocco (+3.7% per year).

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, picking up by 5.8% against the previous year. Over the period under review, the import price, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2021 an increase of 23%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Morocco ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Somalia (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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