SADC: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in SADC

The SADC fish fat and oil market declined to $X in 2022, waning by -1.8% against the previous year. The total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 -3.0% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Fish Fats And Oils in SADC

In value terms, fish fat and oil production reached $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 21% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Fish Fats And Oils

Exports in SADC

Fish fat and oil exports skyrocketed to X tons in 2022, with an increase of 76% on 2021. Over the period under review, exports posted a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 92% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, fish fat and oil exports skyrocketed to $X in 2022. In general, exports recorded prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa represented the largest exporting country with an export of about X tons, which reached 84% of total exports. It was distantly followed by Mauritius (X tons), committing a 14% share of total exports.

Exports from South Africa increased at an average annual rate of +8.4% from 2012 to 2022. At the same time, Mauritius (+14.0%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing exporter exported in SADC, with a CAGR of +14.0% from 2012-2022. While the share of South Africa (+20 p.p.) and Mauritius (+7.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest fish fat and oil supplier in SADC, comprising 81% of total exports. The second position in the ranking was held by Mauritius ($X), with a 17% share of total exports.

In South Africa, fish fat and oil exports increased at an average annual rate of +16.0% over the period from 2012-2022.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, jumping by 20% against the previous year. Export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fish fat and oil export price increased by +83.5% against 2017 indices. The pace of growth was the most pronounced in 2013 when the export price increased by 39% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mauritius ($X per ton), while South Africa stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+7.0%).

Imports of Fish Fats And Oils

Imports in SADC

In 2022, approx. X tons of fish fats and oils were imported in SADC; falling by -8.9% against the year before. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 157%. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined in the following year.

In value terms, fish fat and oil imports dropped to $X in 2022. Over the period under review, imports, however, showed strong growth. The pace of growth was the most pronounced in 2019 with an increase of 72% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then fell in the following year.

Imports by Country

Mauritius (X tons) and South Africa (X tons) prevails in imports structure, together committing 88% of total imports. The following importers - Zimbabwe (X tons), Madagascar (X tons), Democratic Republic of the Congo (X tons) and Seychelles (X tons) - each accounted for an 8.6% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Mauritius (with a CAGR of +102.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mauritius ($X), South Africa ($X) and Madagascar ($X) were the countries with the highest levels of imports in 2022, together accounting for 95% of total imports.

Mauritius, with a CAGR of +75.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, with a decrease of -1.8% against the previous year. Import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fish fat and oil import price increased by +22.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 76%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while Seychelles ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Democratic Republic of the Congo (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform