SADC: Crude Rapeseed Oil Market 2024

Crude Rapeseed Oil Market Size in SADC

The SADC crude rapeseed oil market reduced to $X in 2022, dropping by -12.5% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 -26.7% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Crude Rapeseed Oil Production in SADC

In value terms, crude rapeseed oil production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 313%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Crude Rapeseed Oil Exports

Exports in SADC

In 2022, overseas shipments of crude rape, colza or mustard oil increased by 5,659% to X tons for the first time since 2016, thus ending a five-year declining trend. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 14,617%. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, crude rapeseed oil exports skyrocketed to $X in 2022. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 9,955% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

South Africa (X tons) represented roughly 100% of total exports in 2022.

South Africa was also the fastest-growing in terms of the crude rape, colza or mustard oil exports, with a CAGR of +39.5% from 2012 to 2022. From 2012 to 2022, the share of South Africa increased by +22 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest crude rapeseed oil supplier in SADC.

In South Africa, crude rapeseed oil exports expanded at an average annual rate of +55.5% over the period from 2012-2022.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, declining by -48.8% against the previous year. In general, the export price, however, continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2015 an increase of 148% against the previous year. The level of export peaked at $X per ton in 2021, and then reduced markedly in the following year.

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 +11.4% per year.

Crude Rapeseed Oil Imports

Imports in SADC

In 2022, purchases abroad of crude rape, colza or mustard oil decreased by -44.1% to X tons, falling for the third consecutive year after four years of growth. Overall, imports continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2016 when imports increased by 5,118%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, crude rapeseed oil imports fell dramatically to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 2,300% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

South Africa prevails in imports structure, accounting for X tons, which was near 84% of total imports in 2022. Zimbabwe (X tons), Botswana (X tons), Namibia (X tons) and Mauritius (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to crude rapeseed oil imports into South Africa stood at +6.6%. At the same time, Namibia (+104.9%), Botswana (+32.9%) and Zimbabwe (+17.3%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing importer imported in SADC, with a CAGR of +104.9% from 2012-2022. By contrast, Mauritius (-9.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Africa, Botswana, Zimbabwe and Namibia increased by +47, +3.4, +3.1 and +2.9 percentage points, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported crude rape, colza or mustard oil in SADC, comprising 85% of total imports. The second position in the ranking was taken by Namibia ($X), with a 3.6% share of total imports. It was followed by Mauritius, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa totaled +9.7%. The remaining importing countries recorded the following average annual rates of imports growth: Namibia (+103.2% per year) and Mauritius (-3.2% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, jumping by 48% against the previous year. In general, the import price continues to indicate tangible growth. The most prominent rate of growth was recorded in 2013 when the import price increased by 100% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+7.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform