Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in South Africa - 2023
Contents:
- Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in South Africa (CIF) - 2023
- Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in South Africa (FOB) - 2022
- Imports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in South Africa
- Exports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in South Africa
Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in South Africa (CIF) - 2023
The average import price for vegetable oils; linseed oil and its fractions, crude, not chemically modifieds stood at $1,653 per ton in December 2023, increasing by 36% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.7%. The pace of growth appeared the most rapid in October 2023 an increase of 46% m-o-m. As a result, import price attained the peak level of $1,968 per ton. From November 2023 to December 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Canada ($3,249 per ton), while the price for Belgium totaled $1,372 per ton.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Belgium (+0.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in South Africa (FOB) - 2022
The average export price for vegetable oils; linseed oil and its fractions, crude, not chemically modifieds stood at $1,709 per ton in 2022, with an increase of 4.1% against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for vegetable oils; linseed oil and its fractions, crude, not chemically modifieds increased by +57.5% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 51% against the previous year. The export price peaked at $1,964 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Botswana ($2,764 per ton), while the average price for exports to the Netherlands ($610 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 Namibia (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in South Africa
In 2022, overseas purchases of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds were finally on the rise to reach 1.2K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a noticeable downturn.
In value terms, imports of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds rose sharply to $2.6M in 2022. Overall, imports showed a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 45%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in years to come.
| Import of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 1.4 | 1.5 | 2.0 | 2.6 | 22.9% |
| Others | N/A | 0.1 | 0.4 | N/A | 300.0% |
| Total | 1.4 | 1.6 | 2.3 | 2.6 | 22.9% |
Top Suppliers of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified to South Africa in 2022:
- Belgium (1190.1 tons)
Exports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in South Africa
In 2022, the amount of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds exported from South Africa amounted to 386 tons, remaining relatively unchanged against the year before. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2020 with an increase of 367% against the previous year. As a result, the exports reached the peak of 454 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds rose markedly to $659K in 2022. Overall, exports saw a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 267% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in the immediate term.
| Export of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Namibia | 14.5 | 51.7 | 42.3 | 235 | 153.1% |
| Lesotho | 52.2 | 88.6 | 69.2 | 93.1 | 21.3% |
| Zambia | 7.1 | 62.6 | 18.9 | 89.6 | 132.8% |
| Botswana | 4.8 | 4.6 | 383 | 80.6 | 156.1% |
| Malawi | 39.2 | 36.1 | 45.0 | 49.2 | 7.9% |
| Netherlands | N/A | N/A | 16.1 | 42.2 | 162.1% |
| Zimbabwe | 10.1 | 194 | 8.9 | 24.8 | 34.9% |
| Others | 6.4 | 55.0 | 44.5 | 44.4 | 90.7% |
| Total | 134 | 492 | 627 | 659 | 70.1% |
Top Export Markets for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified from South Africa in 2022:
- Namibia (85.7 tons)
- Netherlands (69.1 tons)
- Zambia (68.8 tons)
- Lesotho (65.8 tons)
- Malawi (43.8 tons)
- Botswana (29.2 tons)
- Zimbabwe (9.0 tons)
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