SADC: Oleo Oils Market 2024

Oleo Oils Market Size in SADC

The SADC oleo oils market contracted slightly to $X in 2021, remaining stable against the previous year. Over the period under review, consumption, however, continues to indicate a slight reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Oleo Oils Production in SADC

In value terms, oleo oils production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 21% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Oleo Oils Exports

Exports in SADC

In 2021, exports of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in SADC declined markedly to X tons, which is down by -22.6% compared with 2020 figures. In general, exports faced a abrupt downturn. The pace of growth was the most pronounced in 2019 with an increase of 73%. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, oleo oils exports shrank to $X in 2021. Over the period under review, exports recorded a deep setback. The growth pace was the most rapid in 2017 when exports increased by 173% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Namibia (X tons) represented the main exporter of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil, constituting 74% of total exports. It was distantly followed by Botswana (X tons) and South Africa (X tons), together achieving a 26% share of total exports.

Namibia was also the fastest-growing in terms of the lard stearin, lard oil, oleostearin, oleo-oil and tallow oil exports, with a CAGR of -13.3% from 2012 to 2021. Botswana (-20.8%) and South Africa (-28.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Namibia increased by +27 percentage points.

In value terms, Namibia ($X) remains the largest oleo oils supplier in SADC, comprising 80% of total exports. The second position in the ranking was taken by South Africa ($X), with an 11% share of total exports.

In Namibia, oleo oils exports decreased by an average annual rate of -9.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Africa (-27.8% per year) and Botswana (-22.6% per year).

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, with an increase of 13% against the previous year. Export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, oleo oils export price increased by +24.7% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by 65%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Africa ($X per ton), while Botswana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Namibia (+4.0%), while the other leaders experienced mixed trends in the export price figures.

Oleo Oils Imports

Imports in SADC

In 2021, approx. X tons of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil were imported in SADC; growing by 6.5% against the previous year's figure. Overall, imports, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2018 when imports increased by 27% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, oleo oils imports expanded notably to $X in 2021. In general, imports, however, saw a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of 21% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Zimbabwe was the key importer of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in SADC, with the volume of imports resulting at X tons, which was approx. 76% of total imports in 2021. Zambia (X tons) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by Mozambique (5%).

Zimbabwe was also the fastest-growing in terms of the lard stearin, lard oil, oleostearin, oleo-oil and tallow oil imports, with a CAGR of +24.1% from 2012 to 2021. Zambia (-15.7%) and Mozambique (-26.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Zimbabwe increased by +72 percentage points.

In value terms, Zimbabwe ($X) constitutes the largest market for imported lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in SADC, comprising 76% of total imports. The second position in the ranking was taken by Zambia ($X), with a 19% share of total imports.

In Zimbabwe, oleo oils imports increased at an average annual rate of +25.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Zambia (-18.3% per year) and Mozambique (-37.9% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, increasing by 4.7% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 19% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Zambia ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Zimbabwe (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform