South Africa: Animal Fats Market 2024

Animal Fats Market Size in South Africa

In 2021, after two years of growth, there was significant decline in the South African animal fats market, when its value decreased by -12% to $X. In general, consumption, however, continues to indicate prominent growth. Over the period under review, the market reached the maximum level at $X in 2020, and then fell in the following year.

Animal Fats Production in South Africa

In value terms, animal fats production contracted to $X in 2021 estimated in export price. In general, production, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2019 with an increase of 59%. Over the period under review, production hit record highs at $X in 2020, and then contracted in the following year.

Animal Fats Exports

Exports from South Africa

In 2021, shipments abroad of animal fats and oils was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, animal fats exports surged to $X in 2021. Overall, exports continue to indicate a strong increase. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Mozambique (X tons), Malawi (X tons) and Zimbabwe (X tons) were the main destinations of animal fats exports from South Africa, with a combined 66% share of total exports. The Netherlands, Zambia, Lesotho and Swaziland lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the biggest increases were recorded for Zambia (with a CAGR of +36.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mozambique ($X), Zimbabwe ($X) and Malawi ($X) appeared to be the largest markets for animal fats exported from South Africa worldwide, together accounting for 67% of total exports.

In terms of the main countries of destination, Mozambique, with a CAGR of +39.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average animal fats export price amounted to $X per ton, which is down by -20.2% against the previous year. Overall, the export price, however, saw prominent growth. The most prominent rate of growth was recorded in 2019 an increase of 413% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Swaziland ($X per ton), while the average price for exports to Lesotho ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Swaziland (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Fats Imports

Imports into South Africa

In 2021, overseas purchases of animal fats and oils increased by 101% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, recorded a pronounced downturn. The pace of growth appeared the most rapid in 2020 with an increase of 921%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, animal fats imports soared to $X in 2021. Overall, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2013 when imports increased by 1,711% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Colombia (X tons) constituted the largest supplier of animal fats to South Africa, accounting for a 87% share of total imports. Moreover, animal fats imports from Colombia exceeded the figures recorded by the second-largest supplier, India (X tons), ninefold. The UK (X kg) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Colombia stood at +87.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (0.0% per year) and the UK (-7.6% per year).

In value terms, Colombia ($X) constituted the largest supplier of animal fats and oils to South Africa, comprising 94% of total imports. The second position in the ranking was held by the UK ($X), with a 3.2% share of total imports. It was followed by India, with a 1.7% share.

From 2012 to 2021, the average annual growth rate of value from Colombia totaled +83.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-0.8% per year) and India (0.0% per year).

Import Prices by Country

The average animal fats import price stood at $X per ton in 2021, declining by -10.8% against the previous year. In general, the import price, however, saw significant growth. The pace of growth appeared the most rapid in 2013 when the average import price increased by 1,347%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+7.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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