SADC: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in SADC

The SADC margarine and shortening market rose significantly to $X in 2022, surging by 5.3% against the previous year. The market value increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Margarine And Shortening Production in SADC

In value terms, margarine and shortening production expanded sharply to $X in 2022 estimated in export price. Overall, production saw a prominent increase. The growth pace was the most rapid in 2013 when the production volume increased by 47%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Margarine And Shortening Exports

Exports in SADC

In 2022, shipments abroad of margarine and shortening decreased by -0.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports continue to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2020 when exports increased by 20% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, margarine and shortening exports soared to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 20% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

South Africa dominates exports structure, amounting to X tons, which was near 94% of total exports in 2022. The following exporters - Mauritius (X tons) and Zimbabwe (X tons) - together made up 4.6% of total exports.

From 2012 to 2022, average annual rates of growth with regard to margarine and shortening exports from South Africa stood at -2.5%. At the same time, Mauritius (+23.3%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing exporter exported in SADC, with a CAGR of +23.3% from 2012-2022. Zimbabwe experienced a relatively flat trend pattern. Mauritius (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by -2.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest margarine and shortening supplier in SADC, comprising 96% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with a 2.5% share of total exports.

In South Africa, margarine and shortening exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Zimbabwe (+5.0% per year) and Mauritius (+7.2% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, increasing by 17% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2021 when the export price increased by 18% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in years to come.

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 Zimbabwe ($X per ton), while Mauritius ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zimbabwe (+4.0%), while the other leaders experienced mixed trends in the export price figures.

Margarine And Shortening Imports

Imports in SADC

Margarine and shortening imports totaled X tons in 2022, surging by 4% on the previous year. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 20% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, margarine and shortening imports expanded notably to $X in 2022. The total import value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 16% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Angola was the key importing country with an import of around X tons, which recorded 24% of total imports. Zambia (X tons) ranks second in terms of the total imports with an 8.6% share, followed by Madagascar (8.5%), South Africa (8.4%), Mauritius (7.1%), Tanzania (6.8%), Democratic Republic of the Congo (6.4%), Namibia (6.4%), Zimbabwe (5.6%) and Mozambique (4.8%). The following importers - Swaziland (X tons) and Botswana (X tons) - each amounted to a 7.1% share of total imports.

Imports into Angola decreased at an average annual rate of -2.8% from 2012 to 2022. At the same time, Tanzania (+21.5%), Madagascar (+11.3%), Mauritius (+9.6%), Democratic Republic of the Congo (+6.1%), Mozambique (+4.0%) and Botswana (+2.5%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing importer imported in SADC, with a CAGR of +21.5% from 2012-2022. South Africa experienced a relatively flat trend pattern. By contrast, Zambia (-1.5%), Swaziland (-1.6%), Namibia (-4.2%) and Zimbabwe (-8.9%) illustrated a downward trend over the same period. Tanzania (+5.8 p.p.), Madagascar (+5.5 p.p.), Mauritius (+4.2 p.p.), Democratic Republic of the Congo (+2.8 p.p.) and Mozambique (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Zambia, Namibia, Angola and Zimbabwe saw its share reduced by -1.5%, -3.6%, -8.5% and -8.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Angola ($X), South Africa ($X) and Mauritius ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 42% of total imports. Mozambique, Tanzania, Zambia, Zimbabwe, Madagascar, Namibia, Democratic Republic of the Congo, Botswana and Swaziland lagged somewhat behind, together accounting for a further 51%.

Among the main importing countries, Tanzania, with a CAGR of +30.5%, recorded the highest rates of growth with regard to the value of imports, 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, picking up by 5.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2021 an increase of 17% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

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 ($X per ton), while Madagascar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform