Angola: Refined Soybean Oil Market 2025

Refined Soybean Oil Market Size in Angola

The Angolan refined soybean oil market dropped to $X in 2022, which is down by -14.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted a notable expansion. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Refined Soybean Oil Exports

Exports from Angola

Refined soybean oil exports from Angola dropped dramatically to X tons in 2022, waning by -26.9% on the previous year's figure. Over the period under review, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 749%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, refined soybean oil exports declined remarkably to $X in 2022. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 1,486%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for refined soybean oil exports from Angola, accounting for a 95% share of total exports. Moreover, refined soybean oil exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Zambia (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Democratic Republic of the Congo stood at +28.7%.

In value terms, Democratic Republic of the Congo ($X) emerged as the key foreign market for refined soybean oil and its fractions exports from Angola, comprising 92% of total exports. The second position in the ranking was taken by Zambia ($X), with a 3.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Democratic Republic of the Congo amounted to +28.2%.

Export Prices by Country

In 2022, the average refined soybean oil export price amounted to $X per ton, stabilizing at the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 87% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Zambia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Zambia (+8.5%).

Refined Soybean Oil Imports

Imports into Angola

Refined soybean oil imports into Angola shrank to X tons in 2022, with a decrease of -9.3% on the previous year's figure. Overall, imports, however, saw a pronounced expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 120%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, refined soybean oil imports reduced rapidly to $X in 2022. In general, imports, however, continue to indicate a noticeable increase. The growth pace was the most rapid in 2015 with an increase of 98%. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank significantly in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of refined soybean oil to Angola, with a 46% share of total imports. Moreover, refined soybean oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, Singapore (X tons), fourfold. The third position in this ranking was taken by Brazil (X tons), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to +31.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+24.4% per year) and Brazil (+15.0% per year).

In value terms, Malaysia ($X) constituted the largest supplier of refined soybean oil and its fractions to Angola, comprising 42% of total imports. The second position in the ranking was taken by Singapore ($X), with a 16% share of total imports. It was followed by Brazil, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia amounted to +28.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+36.2% per year) and Brazil (+18.3% per year).

Import Prices by Country

In 2022, the average refined soybean oil import price amounted to $X per ton, reducing by -7.8% against the previous year. In general, the import price showed a mild setback. The pace of growth appeared the most rapid in 2021 an increase of 21%. The import price 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 origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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