Africa: Oil Crops Market 2024

Oil Crops Market Size in Africa

In 2022, the African oil crops market decreased by X% to $X for the first time since 2015, thus ending a six-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Oil Crops Production in Africa

In value terms, oil crops production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Nigeria (X tons) constituted the country with the largest volume of oil crops production, accounting for X% of total volume. Moreover, oil crops production in Nigeria exceeded the figures recorded by the second-largest producer, Sudan (X tons), fourfold. Ghana (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual growth rate of volume in Nigeria amounted to X%. In the other countries, the average annual rates were as follows: Sudan (X% per year) and Ghana (X% per year).

In 2022, the average yield of oil crops (primary) in Africa was estimated at X tons per ha, almost unchanged from the previous year. Over the period under review, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of oil crops (primary) were harvested in Africa; stabilizing at the previous year. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the harvested area dedicated to oil crops production reached the maximum at X ha in 2021, and then reduced slightly in the following year.

Oil Crops Exports

Exports in Africa

In 2022, approx. X tons of oil crops (primary) were exported in Africa; surging by X% compared with the previous year's figure. Total exports indicated a buoyant increase 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, oil crops exports soared to $X in 2022. Total exports indicated a perceptible 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. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Togo (X tons) and Sudan (X tons) were the largest exporters of oil crops (primary) in 2022, recording near X% and X% of total exports, respectively. Nigeria (X tons) ranks next in terms of the total exports with a X% share, followed by Benin (X%), South Africa (X%), Burkina Faso (X%), Tanzania (X%), Ethiopia (X%) and Mozambique (X%). Chad (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest oil crops supplying countries in Africa were Sudan ($X), Nigeria ($X) and Ethiopia ($X), together comprising X% of total exports. South Africa, Tanzania, Burkina Faso, Mozambique, Chad, Togo and Benin lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Togo, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the export price in Africa amounted to $X per ton, shrinking by X% against the previous year. In general, the export price saw a perceptible setback. The pace of growth was the most pronounced in 2013 an increase of X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chad ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Oil Crops Imports

Imports in Africa

In 2022, purchases abroad of oil crops (primary) increased by X% to X tons, rising for the sixth consecutive year after two years of decline. Overall, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2018 when imports increased by X%. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, oil crops imports dropped modestly to $X in 2022. Over the period under review, imports recorded prominent growth. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Egypt represented the main importer of oil crops (primary) in Africa, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2022. Algeria (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Tunisia (X%).

Imports into Egypt increased at an average annual rate of X% from 2012 to 2022. At the same time, Algeria (X%) and Tunisia (X%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. While the share of Algeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Egypt (X p.p.) and Tunisia (X p.p.) displayed negative dynamics.

In value terms, Egypt ($X) constitutes the largest market for imported oil crops (primary) in Africa, comprising X% of total imports. The second position in the ranking was taken by Algeria ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Egypt stood at X%. In the other countries, the average annual rates were as follows: Algeria (X% per year) and Tunisia (X% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price showed a perceptible setback. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Tunisia ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :