SADC: Refined Olive Oil Market 2025

Refined Olive Oil Market Size in SADC

The SADC refined olive oil market dropped to $X in 2022, which is down by -3.5% against the previous year. Overall, consumption showed a noticeable setback. The growth pace was the most rapid in 2021 when the market value increased by 8.1% against the previous year. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Refined Olive Oil Production in SADC

In value terms, refined olive oil production fell to $X in 2022 estimated in export price. Overall, production showed a noticeable contraction. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Refined Olive Oil Exports

Exports in SADC

In 2022, refined olive oil exports in SADC dropped notably to X tons, waning by -31.4% on 2021 figures. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 28%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refined olive oil exports shrank to $X in 2022. The total export value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when exports increased by 30% against the previous year. The level of export peaked at $X in 2021, and then dropped modestly in the following year.

Exports by Country

South Africa dominates exports structure, reaching X tons, which was approx. 96% of total exports in 2022. Tanzania (X tons) followed a long way behind the leaders.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of refined olive oil. At the same time, Tanzania (+7.2%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of +7.2% from 2012-2022. While the share of South Africa (+2.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest refined olive oil supplier in SADC, comprising 92% of total exports. The second position in the ranking was held by Tanzania ($X), with a 4.9% share of total exports.

In South Africa, refined olive oil exports expanded at an average annual rate of +3.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, surging by 40% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while South Africa amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (+18.8%).

Refined Olive Oil Imports

Imports in SADC

In 2022, refined olive oil imports in SADC stood at X tons, surging by 10% on 2021. Over the period under review, imports, however, continue to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 21%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, refined olive oil imports expanded notably to $X in 2022. In general, imports, however, continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2016 with an increase of 25% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Angola (X tons) and Seychelles (X tons) were the largest importers of refined olive oil in 2022, accounting for approx. 28% and 25% of total imports, respectively. Mozambique (X tons) took the next position in the ranking, followed by Mauritius (X tons) and South Africa (X tons). All these countries together held approx. 33% share of total imports. The following importers - Namibia (X tons) and Botswana (X tons) - together made up 5.7% of total imports.

From 2012 to 2022, the biggest increases were recorded for Botswana (with a CAGR of +8.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined olive oil importing markets in SADC were Angola ($X), Seychelles ($X) and Mauritius ($X), together comprising 69% of total imports. South Africa, Mozambique, Namibia and Botswana lagged somewhat behind, together comprising a further 24%.

Botswana, with a CAGR of +8.1%, saw the highest growth rate of the value of imports, among 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

The import price in SADC stood at $X per ton in 2022, approximately mirroring the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 28% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 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 Angola ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform