Report Update Nov 1, 2024

South Africa - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights

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South Africa: Groundnut Oil Market 2024

Groundnut Oil Market Size in South Africa

The South African groundnut oil market contracted remarkably to $X in 2021, reducing by -47.4% against the previous year. Over the period under review, consumption showed a abrupt decrease. The pace of growth appeared the most rapid in 2018 when the market value increased by 3.3%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Groundnut Oil Production in South Africa

In value terms, groundnut oil production surged to $X in 2021 estimated in export price. In general, production showed a dramatic contraction. The pace of growth was the most pronounced in 2018 with an increase of 67%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Groundnut Oil Exports

Exports from South Africa

In 2021, shipments abroad of groundnut oil increased by 261,544% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports saw significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, groundnut oil exports soared to $X in 2021. In general, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for groundnut oil exports from South Africa, accounting for a 92% share of total exports. Moreover, groundnut oil exports to China exceeded the volume sent to the second major destination, Switzerland (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China stood at +168.4%.

In value terms, China ($X) remains the key foreign market for groundnut oil exports from South Africa, comprising 96% of total exports. The second position in the ranking was held by Switzerland ($X), with a 3.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +154.5%.

Export Prices by Country

In 2021, the average groundnut oil export price amounted to $X per ton, which is down by -25% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The growth pace was the most rapid in 2017 when the average export price increased by 35%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the 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 China ($X per ton), while the average price for exports to Switzerland stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (-5.2%).

Groundnut Oil Imports

Imports into South Africa

In 2021, imports of groundnut oil into South Africa soared to X tons, increasing by 264% against the year before. Over the period under review, imports showed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, groundnut oil imports soared to $X in 2021. In general, imports showed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of groundnut oil to South Africa, accounting for a 65% share of total imports. Moreover, groundnut oil imports from India exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. The UK (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +106.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+246.4% per year) and the UK (-11.5% per year).

In value terms, India ($X) constituted the largest supplier of groundnut oil to South Africa, comprising 59% of total imports. The second position in the ranking was held by Belgium ($X), with an 18% share of total imports. It was followed by Portugal, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled +108.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+205.0% per year) and Portugal (0.0% per year).

Import Prices by Country

The average groundnut oil import price stood at $X per ton in 2021, rising by 132% against the previous year. In general, the import price recorded a prominent increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 193% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat 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 Portugal ($X per ton), while the price for Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for groundnut oil in the world?

The country with the largest volume of groundnut oil consumption was China, accounting for 47% of total volume. Moreover, groundnut oil consumption in China exceeded the figures recorded by the second-largest consumer, Nigeria, sixfold. Sudan ranked third in terms of total consumption with a 4.5% share.

What are the largest producers of groundnut oil in the world?

China constituted the country with the largest volume of groundnut oil production, comprising approx. 41% of total volume. Moreover, groundnut oil production in China exceeded the figures recorded by the second-largest producer, Nigeria, fivefold. The third position in this ranking was occupied by India, with a 6.9% share.

What are the leading suppliers of groundnut oil to South Africa?

In value terms, the largest groundnut oil suppliers to South Africa were India, the UK and Hong Kong SAR $992), with a combined 79% share of total imports.

What are the leading importers of groundnut oil from South Africa?

In value terms, Namibia, Botswana and Swaziland constituted the largest markets for groundnut oil exported from South Africa worldwide, with a combined 76% share of total exports. These countries were followed by Zimbabwe and Angola, which together accounted for a further 17%.

What is the average export price for groundnut oil in South Africa?

The average groundnut oil export price stood at $1,472 per ton in 2020, growing by 7.8% against the previous year.

What is the average import price for groundnut oil in South Africa?

In 2020, the average groundnut oil import price amounted to $1,734 per ton, shrinking by -53% against the previous year.

This report provides an in-depth analysis of the groundnut oil market in South Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 244 - Oil of Groundnuts

Country coverage:

South Africa

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in South Africa
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023