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South Africa - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSouth Africa: Palm Oil Market 2024
Palm Oil Market Size in South Africa
In 2023, the South African palm oil market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. In general, the total consumption indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Palm oil consumption peaked at $X in 2022, and then fell dramatically in the following year.
Palm Oil Exports
Exports from South Africa
After two years of decline, shipments abroad of palm oil increased by X% to X tons in 2023. Over the period under review, exports recorded a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the near future.
In value terms, palm oil exports expanded sharply to $X in 2023. In general, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the immediate term.
Exports by Country
Zimbabwe (X tons) was the main destination for palm oil exports from South Africa, with a X% share of total exports. Moreover, palm oil exports to Zimbabwe exceeded the volume sent to the second major destination, Swaziland (X tons), threefold. The third position in this ranking was taken by Zambia (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Zimbabwe stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Swaziland (X% per year) and Zambia (X% per year).
In value terms, Zimbabwe ($X) remains the key foreign market for palm oil exports from South Africa, comprising X% of total exports. The second position in the ranking was taken by Swaziland ($X), with a X% share of total exports. It was followed by Zambia, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to Zimbabwe amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Swaziland (X% per year) and Zambia (X% per year).
Export Prices by Country
In 2023, the average palm oil export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price showed a pronounced contraction. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2022, and then declined remarkably in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Botswana ($X per ton), while the average price for exports to Lesotho ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Botswana (X%), while the prices for the other major destinations experienced a decline.
Palm Oil Imports
Imports into South Africa
In 2023, approx. X tons of palm oil were imported into South Africa; remaining constant against the year before. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at X tons in 2022, and then contracted slightly in the following year.
In value terms, palm oil imports dropped sharply to $X in 2023. In general, imports, however, posted mild growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2022, and then shrank markedly in the following year.
Imports by Country
In 2023, Indonesia (X tons) constituted the largest palm oil supplier to South Africa, with a X% share of total imports. Moreover, palm oil imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold.
From 2012 to 2023, the average annual rate of growth in terms of volume from Indonesia totaled X%.
In value terms, Indonesia ($X) constituted the largest supplier of palm oil to South Africa, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of value from Indonesia stood at X%.
Import Prices by Country
The average palm oil import price stood at $X per ton in 2023, declining by X% against the previous year. In general, the import price recorded a mild decrease. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2022, and then dropped rapidly in the following year.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia stood at $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%).
Source: IndexBox Platform
This report provides an in-depth analysis of the palm 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 257 - Oil of palm
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
- Find deeper insights into current market developments
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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