Kenya: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in Kenya

The Kenyan chemically modified oils market shrank to $X in 2022, falling by -7.9% against the previous year. Over the period under review, consumption, however, saw a prominent expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Chemically Modified Oils Production in Kenya

In value terms, chemically modified oils production declined to $X in 2022 estimated in export price. In general, production, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 50%. Chemically modified oils production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Chemically Modified Oils Exports

Exports from Kenya

In 2022, overseas shipments of animal or vegetable fats and oils chemically modified increased by 33% to X tons, rising for the fourth consecutive year after two years of decline. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 254%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, chemically modified oils exports expanded modestly to $X in 2022. Over the period under review, exports showed a buoyant increase. The pace of growth was the most pronounced in 2015 when exports increased by 159%. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

France (X tons), Ethiopia (X tons) and the Netherlands (X tons) were the main destinations of chemically modified oils exports from Kenya, with a combined 50% share of total exports. Uganda, Democratic Republic of the Congo, Italy and Germany lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uganda (with a CAGR of +93.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chemically modified oils exported from Kenya were Uganda ($X), Ethiopia ($X) and Italy ($X), together accounting for 55% of total exports.

In terms of the main countries of destination, Uganda, with a CAGR of +73.1%, saw 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

The average chemically modified oils export price stood at $X per ton in 2022, reducing by -23.4% against the previous year. In general, the export price continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2014 an increase of 61% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uganda ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ethiopia (-0.9%), while the prices for the other major destinations experienced a decline.

Chemically Modified Oils Imports

Imports into Kenya

In 2022, approx. X tons of animal or vegetable fats and oils chemically modified were imported into Kenya; dropping by -5.4% against 2021 figures. Over the period under review, imports recorded a pronounced curtailment. The pace of growth was the most pronounced in 2019 with an increase of 80% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, chemically modified oils imports dropped to $X in 2022. Overall, imports continue to indicate a mild descent. The most prominent rate of growth was recorded in 2019 with an increase of 74%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of chemically modified oils to Kenya, accounting for a 76% share of total imports. Moreover, chemically modified oils imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. Egypt (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia stood at +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.1% per year) and Egypt (-13.0% per year).

In value terms, Malaysia ($X), China ($X) and the Netherlands ($X) were the largest chemically modified oils suppliers to Kenya, with a combined 74% share of total imports.

The Netherlands, with a CAGR of +28.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average chemically modified oils import price amounted to $X per ton, with a decrease of -7.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 18% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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