SADC: Market for Sunflower-Seed And Safflower Oil 2024

Market Size for Sunflower-Seed And Safflower Oil in SADC

The SADC sunflower-seed and safflower oil market reached $X in 2022, increasing by 11% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Sunflower-Seed And Safflower Oil in SADC

In value terms, sunflower-seed and safflower oil production rose modestly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 27% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Sunflower-Seed And Safflower Oil

Exports in SADC

In 2022, shipments abroad of sunflower-seed and safflower oil was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 71% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sunflower-seed and safflower oil exports surged to $X in 2022. In general, exports recorded a modest expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, South Africa (X tons) represented the major exporter of sunflower-seed and safflower oil, creating 76% of total exports. Mozambique (X tons) ranks second in terms of the total exports with a 17% share, followed by Tanzania (4.9%).

Exports from South Africa decreased at an average annual rate of -6.5% from 2012 to 2022. At the same time, Mozambique (+20.2%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing exporter exported in SADC, with a CAGR of +20.2% from 2012-2022. By contrast, Tanzania (-9.8%) illustrated a downward trend over the same period. Mozambique (+16 p.p.) significantly strengthened its position in terms of the total exports, while Tanzania and South Africa saw its share reduced by -3.2% and -11.9% from 2012 to 2022, respectively.

In value terms, South Africa ($X) remains the largest sunflower-seed and safflower oil supplier in SADC, comprising 79% of total exports. The second position in the ranking was taken by Mozambique ($X), with a 15% share of total exports.

In South Africa, sunflower-seed and safflower oil exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mozambique (+18.1% per year) and Tanzania (-9.5% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, rising by 32% against the previous year. Over the period under review, the export price posted a prominent increase. The growth pace was the most rapid in 2017 when the export price increased by 42%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+7.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Sunflower-Seed And Safflower Oil

Imports in SADC

In 2022, overseas purchases of sunflower-seed and safflower oil were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a mild shrinkage. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, sunflower-seed and safflower oil imports soared to $X in 2022. In general, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Africa prevails in imports structure, finishing at X tons, which was approx. 63% of total imports in 2022. It was distantly followed by Botswana (X tons), Namibia (X tons) and Mozambique (X tons), together making up a 20% share of total imports. The following importers - Mauritius (X tons), Madagascar (X tons) and Tanzania (X tons) - together made up 9.1% of total imports.

Imports into South Africa decreased at an average annual rate of -1.2% from 2012 to 2022. At the same time, Mozambique (+18.0%), Madagascar (+17.0%), Mauritius (+3.7%), Namibia (+2.6%), Botswana (+1.9%) and Tanzania (+1.2%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of +18.0% from 2012-2022. From 2012 to 2022, the share of Mozambique, South Africa, Madagascar, Botswana, Namibia and Mauritius increased by +5.4, +3.9, +2.3, +2.3, +2.3 and +1.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported sunflower-seed and safflower oil in SADC, comprising 59% of total imports. The second position in the ranking was held by Namibia ($X), with a 10% share of total imports. It was followed by Botswana, with a 10% share.

In South Africa, sunflower-seed and safflower oil imports expanded at an average annual rate of +1.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Namibia (+6.0% per year) and Botswana (+6.9% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, increasing by 19% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sunflower-seed and safflower oil import price increased by +106.7% against 2019 indices. The growth pace was the most rapid in 2021 when the import price increased by 50%. The level of import peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Botswana (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform