Africa: Vegetable Oils Market 2024

Vegetable Oils Market Size in Africa

In 2022, the African vegetable oils market increased by X% to $X, rising for the second consecutive year after five years of decline. In general, consumption recorded a perceptible setback. The pace of growth appeared the most rapid in 2021 when the market value increased by X%. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vegetable Oils Production in Africa

In value terms, vegetable oils production dropped to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vegetable Oils Exports

Exports in Africa

In 2022, overseas shipments of vegetable fats and oils increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, vegetable oils exports skyrocketed to $X in 2022. Total exports indicated a modest 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, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from South Africa (X tons), Tunisia (X tons) and Kenya (X tons), together accounting for X% of total export. It was distantly followed by Egypt (X tons), Uganda (X tons) and Zambia (X tons), together generating a X% share of total exports. Rwanda (X tons) took a little share of total exports.

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

In value terms, the largest vegetable oils supplying countries in Africa were Tunisia ($X), South Africa ($X) and Egypt ($X), together comprising X% of total exports.

In terms of the main exporting countries, Egypt, with a CAGR of X%, saw 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

The export price in Africa stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

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 Egypt ($X per ton), while Kenya ($X per ton) was amongst the lowest.

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

Vegetable Oils Imports

Imports in Africa

In 2022, purchases abroad of vegetable fats and oils decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, vegetable oils imports totaled $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Nigeria (X tons) and Algeria (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Morocco (X tons), Egypt (X tons) and Senegal (X tons), together making up a X% share of total imports. Kenya (X tons), Burkina Faso (X tons), Ethiopia (X tons), Rwanda (X tons), South Africa (X tons), Democratic Republic of the Congo (X tons), Zimbabwe (X tons) and Ghana (X tons) followed a long way behind the leaders.

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

In value terms, Algeria ($X), Egypt ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Nigeria, with a CAGR of X%, recorded 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

In 2022, the import price in Africa amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

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 Egypt ($X per ton), while Burkina Faso ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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