South Africa: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2024

Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in South Africa

In 2021, after four years of growth, there was significant decline in the South African market for sunflower-seed or safflower oil, refined, but not chemically modified, when its value decreased by -6.7% to $X. The market value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in South Africa

In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 12% against the previous year. As a result, production reached the peak level of $X, and then shrank in the following year.

Exports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Exports from South Africa

In 2021, approx. X tons of sunflower-seed or safflower oil, refined, but not chemically modified were exported from South Africa; declining by -11% against the previous year. Overall, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 64%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified surged to $X in 2021. Over the period under review, exports showed a deep contraction. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Namibia (X tons), Botswana (X tons) and Lesotho (X tons) were the main destinations of exports of sunflower-seed or safflower oil, refined, but not chemically modified from South Africa, together comprising 88% of total exports. Mozambique, Swaziland, Malawi and Zimbabwe lagged somewhat behind, together comprising a further 10%.

From 2012 to 2021, the biggest increases were in Mozambique (with a CAGR of +3.1%), while shipments for the other leaders experienced a decline.

In value terms, Namibia ($X), Botswana ($X) and Lesotho ($X) were the largest markets for sunflower-seed or safflower oil, refined, but not chemically modified exported from South Africa worldwide, with a combined 88% share of total exports. Mozambique, Swaziland, Malawi and Zimbabwe lagged somewhat behind, together comprising a further 9.6%.

Mozambique, with a CAGR of +6.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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 export price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, picking up by 47% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for sunflower-seed or safflower oil, refined, but not chemically modified increased by +50.3% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 52% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2021, the highest price was recorded for prices to Lesotho ($X per ton) and Malawi ($X per ton), while the average price for exports to Zimbabwe ($X per ton) and Mozambique ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Swaziland (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified

Imports into South Africa

In 2021, after two years of growth, there was significant decline in supplies from abroad of sunflower-seed or safflower oil, refined, but not chemically modified, when their volume decreased by -71.3% to X tons. Over the period under review, imports showed a deep contraction. The pace of growth appeared the most rapid in 2015 when imports increased by 746%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified reduced sharply to $X in 2021. In general, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2015 when imports increased by 438%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Poland (X tons), Bulgaria (X tons) and Spain (X tons) were the main suppliers of imports of sunflower-seed or safflower oil, refined, but not chemically modified to South Africa, together comprising 95% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +85,828.8%), while imports for the other leaders experienced a decline.

In value terms, the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to South Africa were Poland ($X), Bulgaria ($X) and Spain ($X), with a combined 92% share of total imports.

In terms of the main suppliers, Poland, with a CAGR of +75,445.7%, 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 mixed trend patterns.

Import Prices by Country

In 2021, the average import price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, jumping by 58% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mozambique (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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