SADC: Market for Crude Sunflower-Seed And Safflower Oil 2024

Market Size for Crude Sunflower-Seed And Safflower Oil in SADC

The SADC market for crude sunflower-seed and safflower oil surged to $X in 2022, increasing by 20% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Crude Sunflower-Seed And Safflower Oil in SADC

In value terms, crude sunflower-seed and safflower oil production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 19% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Crude Sunflower-Seed And Safflower Oil

Exports in SADC

Crude sunflower-seed and safflower oil exports soared to X tons in 2022, growing by 155% compared with 2021. Overall, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, crude sunflower-seed and safflower oil exports skyrocketed to $X in 2022. In general, exports posted a pronounced increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa represented the largest exporter of crude sunflower-seed and safflower oil in SADC, with the volume of exports reaching X tons, which was near 74% of total exports in 2022. Tanzania (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Mozambique (9.9%). Mauritius (X tons) followed a long way behind the leaders.

South Africa was also the fastest-growing in terms of the crude sunflower-seed and safflower oil exports, with a CAGR of +7.0% from 2012 to 2022. At the same time, Mozambique (+2.0%) displayed positive paces of growth. By contrast, Mauritius (-6.8%) and Tanzania (-12.0%) illustrated a downward trend over the same period. South Africa (+36 p.p.) and Mozambique (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Mauritius and Tanzania saw its share reduced by -2.4% and -31.4% from 2012 to 2022, respectively.

In value terms, South Africa ($X) remains the largest crude sunflower-seed and safflower oil supplier in SADC, comprising 86% of total exports. The second position in the ranking was held by Tanzania ($X), with an 11% share of total exports. It was followed by Mauritius, with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa totaled +15.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Tanzania (-11.6% per year) and Mauritius (-1.8% per year).

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, growing by 51% against the previous year. Export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude sunflower-seed and safflower oil export price increased by +104.5% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 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 South Africa (+8.2%), while the other leaders experienced more modest paces of growth.

Imports of Crude Sunflower-Seed And Safflower Oil

Imports in SADC

In 2022, after two years of decline, there was significant growth in purchases abroad of crude sunflower-seed and safflower oil, when their volume increased by 91% to X tons. In general, imports, however, showed a relatively flat trend pattern. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, crude sunflower-seed and safflower oil imports surged to $X in 2022. Overall, imports recorded a moderate increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Africa prevails in imports structure, finishing at X tons, which was near 84% of total imports in 2022. It was distantly followed by Mozambique (X tons), making up an 8.4% share of total imports. Mauritius (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to crude sunflower-seed and safflower oil imports into South Africa stood at -1.6%. At the same time, Mozambique (+17.7%) and Mauritius (+3.3%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of +17.7% from 2012-2022. Mozambique (+6.8 p.p.) significantly strengthened its position in terms of the total imports, while South Africa saw its share reduced by -7.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported crude sunflower-seed and safflower oil in SADC, comprising 82% of total imports. The second position in the ranking was held by Mozambique ($X), with an 11% share of total imports.

In South Africa, crude sunflower-seed and safflower oil imports expanded at an average annual rate of +1.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mozambique (+12.5% per year) and Mauritius (+6.8% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, jumping by 26% against the previous year. Import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude sunflower-seed and safflower oil import price increased by +119.7% against 2019 indices. The growth pace was the most rapid in 2021 when the import price increased by 48% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mozambique ($X per ton), while South Africa ($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 (+3.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform