SADC: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in SADC

The SADC chemically modified oils market shrank modestly to $X in 2022, reducing by -1.5% against the previous year. The total consumption indicated a buoyant increase 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 -4.4% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Chemically Modified Oils Production in SADC

In value terms, chemically modified oils production totaled $X in 2022 estimated in export price. In general, production, however, showed resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 29%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Chemically Modified Oils Exports

Exports in SADC

In 2022, chemically modified oils exports in SADC expanded notably to X tons, picking up by 6.6% compared with 2021. Overall, exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 278% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, chemically modified oils exports skyrocketed to $X in 2022. Over the period under review, exports saw a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 401%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The biggest shipments were from South Africa (X tons), together recording 97% of total export.

South Africa was also the fastest-growing in terms of the animal or vegetable fats and oils chemically modified exports, with a CAGR of +22.8% from 2012 to 2022. South Africa (+25 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest chemically modified oils supplier in SADC.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa totaled +21.7%.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, surging by 20% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 40%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to -0.9% per year.

Chemically Modified Oils Imports

Imports in SADC

In 2022, the amount of animal or vegetable fats and oils chemically modified imported in SADC declined dramatically to X tons, waning by -24.7% against 2021 figures. In general, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2015 when imports increased by 57% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, chemically modified oils imports shrank notably to $X in 2022. Overall, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by 24% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

South Africa was the key importing country with an import of about X tons, which resulted at 39% of total imports. Madagascar (X tons) held the second position in the ranking, followed by Malawi (X tons) and Mozambique (X tons). All these countries together held near 42% share of total imports. The following importers - Democratic Republic of the Congo (X tons), Angola (X tons), Botswana (X tons) and Swaziland (X tons) - together made up 13% of total imports.

From 2012 to 2022, the biggest increases were recorded for Mozambique (with a CAGR of +37.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported animal or vegetable fats and oils chemically modified in SADC, comprising 62% of total imports. The second position in the ranking was held by Malawi ($X), with a 10% share of total imports. It was followed by Madagascar, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value in South Africa amounted to +1.1%. In the other countries, the average annual rates were as follows: Malawi (+24.0% per year) and Madagascar (+1.5% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, picking up by 2.9% against the previous year. Over the period under review, the import price, however, continues to indicate a mild descent. The pace of growth was the most pronounced in 2016 an increase of 23% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Botswana (+2.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform