SADC: Refined Groundnut Oil Market 2025

Refined Groundnut Oil Market Size in SADC

After three years of decline, the SADC refined groundnut oil market increased by 3.8% to $X in 2021. Over the period under review, consumption continues to indicate resilient growth. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Refined Groundnut Oil Production in SADC

In value terms, refined groundnut oil production reached $X in 2021 estimated in export price. In general, production posted a buoyant expansion. The pace of growth was the most pronounced in 2016 when the production volume increased by 58% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Refined Groundnut Oil Exports

Exports in SADC

Refined groundnut oil exports contracted rapidly to X tons in 2021, which is down by -32.1% compared with the year before. Overall, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 82% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, refined groundnut oil exports reduced to $X in 2021. In general, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of 55% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

South Africa prevails in exports structure, amounting to X tons, which was approx. 91% of total exports in 2021. It was distantly followed by Tanzania (X tons), constituting a 7.1% share of total exports.

Exports from South Africa decreased at an average annual rate of -8.3% from 2012 to 2021. At the same time, Tanzania (+5.1%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of +5.1% from 2012-2021. South Africa (+9.5 p.p.) and Tanzania (+5.2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest refined groundnut oil supplier in SADC, comprising 89% of total exports. The second position in the ranking was held by Tanzania ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual growth rate of value in South Africa totaled -11.3%.

Export Prices by Country

The export price in SADC stood at $X per ton in 2021, with an increase of 33% against the previous year. In general, the export price, however, continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 an increase of 41%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Tanzania ($X per ton), while South Africa amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tanzania (+12.2%).

Refined Groundnut Oil Imports

Imports in SADC

In 2021, overseas purchases of refined groundnut oil increased by 16% to X tons, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate strong growth. The growth pace was the most rapid in 2014 when imports increased by 150% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, refined groundnut oil imports surged to $X in 2021. In general, imports posted temperate growth. The most prominent rate of growth was recorded in 2014 with an increase of 81%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Zambia was the major importing country with an import of about X tons, which accounted for 49% of total imports. Botswana (X tons) ranks second in terms of the total imports with a 13% share, followed by Malawi (9.2%), Namibia (6.8%) and Lesotho (5.8%). The following importers - Democratic Republic of the Congo (X tons) and South Africa (X tons) - each reached an 8.4% share of total imports.

Zambia was also the fastest-growing in terms of the refined groundnut oil imports, with a CAGR of +33.3% from 2012 to 2021. At the same time, Malawi (+23.4%), Namibia (+13.9%) and South Africa (+9.0%) displayed positive paces of growth. Botswana experienced a relatively flat trend pattern. By contrast, Lesotho (-3.2%) and Democratic Republic of the Congo (-3.4%) illustrated a downward trend over the same period. While the share of Zambia (+41 p.p.), Malawi (+6.2 p.p.) and Namibia (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Democratic Republic of the Congo (-8.7 p.p.), Lesotho (-11.2 p.p.) and Botswana (-13.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Zambia ($X) constitutes the largest market for imported refined groundnut oil in SADC, comprising 36% of total imports. The second position in the ranking was held by Botswana ($X), with a 16% share of total imports. It was followed by South Africa, with an 11% share.

In Zambia, refined groundnut oil imports expanded at an average annual rate of +25.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Botswana (-1.9% per year) and South Africa (+16.3% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, almost unchanged from the previous year. Over the period under review, the import price showed a abrupt decrease. The pace of growth was the most pronounced in 2020 when the import price increased by 29% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+6.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform