South Africa: Oil Crops Market 2024

Oil Crops Market Size in South Africa

The South African oil crops market contracted slightly to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Oil Crops Production in South Africa

In value terms, oil crops production rose remarkably to $X in 2022 estimated in export price. Over the period under review, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Oil crops production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The average yield of oil crops (primary) in South Africa reduced to X tons per ha in 2022, which is down by X% against the year before. Over the period under review, the yield indicated a pronounced increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, oil crops yield increased by X% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The oil crops yield peaked at X tons per ha in 2021, and then reduced in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of oil crops (primary) production in South Africa fell modestly to X ha, with a decrease of X% against the year before. The harvested area increased at an average annual rate of X% over the period 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 2018 when the harvested area increased by X%. As a result, the harvested area attained the peak level of X ha. From 2019 to 2022, the growth of the oil crops harvested area failed to regain momentum.

Oil Crops Exports

Exports from South Africa

In 2022, shipments abroad of oil crops (primary) increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports saw a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, oil crops exports soared to $X in 2022. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Malaysia (X tons), Mozambique (X tons) and Germany (X tons) were the main destinations of oil crops exports from South Africa, together comprising X% of total exports. Vietnam, Zimbabwe and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for oil crops exported from South Africa were Malaysia ($X), Mozambique ($X) and Germany ($X), together accounting for X% of total exports. Zimbabwe, Vietnam and Thailand lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Thailand, with a CAGR of X%, saw the highest growth rate of 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 2022, the average oil crops export price amounted to $X per ton, remaining stable against the previous year. In general, the export price enjoyed a pronounced increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Germany ($X per ton) and Zimbabwe ($X per ton), while the average price for exports to Thailand ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into South Africa

In 2022, after two years of growth, there was significant decline in supplies from abroad of oil crops (primary), when their volume decreased by X% to X tons. Over the period under review, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, oil crops imports dropped notably to $X in 2022. Overall, imports saw a perceptible descent. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Zambia (X tons), Botswana (X tons) and Malawi (X tons) were the main suppliers of oil crops imports to South Africa, with a combined X% share of total imports. Mozambique, India, Ukraine, Canada, Namibia and Romania lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest oil crops suppliers to South Africa were Botswana ($X), Zambia ($X) and India ($X), together accounting for X% of total imports. Malawi, Mozambique, Canada, Ukraine, Namibia and Romania lagged somewhat behind, together comprising a further X%.

Ukraine, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average oil crops import price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price recorded prominent growth. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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