South Africa: Cream Fresh Market 2024

Cream Fresh Market Size in South Africa

In 2022, the South African cream fresh market decreased by -29.3% to $X, falling for the fourth year in a row after three years of growth. In general, consumption faced a drastic downturn. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Cream Fresh Production in South Africa

In value terms, cream fresh production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2018 when the production volume increased by 91%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Cream Fresh Exports

Exports from South Africa

In 2022, shipments abroad of cream fresh increased by 17% to X tons, rising for the third year in a row after four years of decline. In general, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2015 when exports increased by 70% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cream fresh exports expanded sharply to $X in 2022. Over the period under review, exports posted a prominent expansion. The pace of growth was the most pronounced in 2015 when exports increased by 44%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Botswana (X tons) was the main destination for cream fresh exports from South Africa, accounting for a 60% share of total exports. Moreover, cream fresh exports to Botswana exceeded the volume sent to the second major destination, Namibia (X tons), fourfold. Mozambique (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Botswana stood at +54.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (+30.2% per year) and Mozambique (+16.0% per year).

In value terms, Botswana ($X), Mozambique ($X) and Namibia ($X) constituted the largest markets for cream fresh exported from South Africa worldwide, with a combined 81% share of total exports.

Among the main countries of destination, Botswana, with a CAGR of +38.5%, 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

The average cream fresh export price stood at $X per ton in 2022, dropping by -4.9% against the previous year. In general, the export price recorded a noticeable decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 29%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Zimbabwe ($X per ton), while the average price for exports to Botswana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Zimbabwe (+13.2%), while the prices for the other major destinations experienced a decline.

Cream Fresh Imports

Imports into South Africa

In 2022, imports of cream fresh into South Africa declined significantly to X tons, falling by -29.5% on the previous year's figure. In general, imports, however, posted a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 4,043% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, cream fresh imports dropped significantly to $X in 2022. Overall, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 2,392%. Imports peaked at $X in 2021, and then fell significantly in the following year.

Imports by Country

In 2022, Denmark (X tons) constituted the largest supplier of cream fresh to South Africa, with a 54% share of total imports. Moreover, cream fresh imports from Denmark exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was taken by France (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from Denmark totaled +47.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+43.4% per year) and France (+80.9% per year).

In value terms, the largest cream fresh suppliers to South Africa were Denmark ($X), Belgium ($X) and France ($X), with a combined 89% share of total imports. Italy and Swaziland lagged somewhat behind, together comprising a further 9.7%.

In terms of the main suppliers, Italy, with a CAGR of +131.4%, 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

The average cream fresh import price stood at $X per ton in 2022, falling by -7.6% against the previous year. In general, the import price continues to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2015 when the average import price increased by 51% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Swaziland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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