South Africa: Tall Oil Market 2024

Tall Oil Market Size in South Africa

The South African tall oil market contracted to $X in 2021, which is down by -5.2% against the previous year. Overall, consumption recorded a deep contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Tall Oil Production in South Africa

In value terms, tall oil production reduced to $X in 2021 estimated in export price. Overall, production recorded a perceptible decline. The pace of growth appeared the most rapid in 2019 with an increase of 42%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Tall Oil Exports

Exports from South Africa

For the third consecutive year, South Africa recorded decline in shipments abroad of tall oil, which decreased by -21.5% to X tons in 2021. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 7,423% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, tall oil exports dropped remarkably to $X in 2021. In general, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 3,255% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal (X tons) was the main destination for tall oil exports from South Africa, accounting for a 90% share of total exports. Moreover, tall oil exports to Senegal exceeded the volume sent to the second major destination, China (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Senegal totaled -1.6%.

In value terms, Senegal ($X) remains the key foreign market for tall oil exports from South Africa, comprising 66% of total exports. The second position in the ranking was taken by China ($X), with a 31% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Senegal stood at -2.0%.

Export Prices by Country

The average tall oil export price stood at $X per ton in 2021, with an increase of 4.7% against the previous year. Over the period under review, the export price, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2017 when the average export price increased by 28%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat 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 Senegal amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+11.2%), while the prices for the other major destinations experienced mixed trend patterns.

Tall Oil Imports

Imports into South Africa

In 2021, overseas purchases of tall oil decreased by -1.4% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports saw a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 103% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, tall oil imports fell sharply to $X in 2021. Overall, imports recorded a abrupt contraction. The pace of growth appeared the most rapid in 2014 with an increase of 93%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest tall oil supplier to South Africa, accounting for a 80% share of total imports. Moreover, tall oil imports from the United States exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold. The third position in this ranking was taken by Brazil (X tons), with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at -20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+123.0% per year) and Brazil (+10.7% per year).

In value terms, the United States ($X) constituted the largest supplier of tall oil to South Africa, comprising 68% of total imports. The second position in the ranking was held by France ($X), with a 13% share of total imports. It was followed by New Zealand, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+62.9% per year) and New Zealand (+0.4% per year).

Import Prices by Country

The average tall oil import price stood at $X per ton in 2021, declining by -24.3% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 26% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped significantly in the following year.

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 France ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :