Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Africa - 2023
Contents:
- Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Africa (CIF) - 2023
- Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Africa (FOB) - 2023
- Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Africa
- Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Africa
Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Africa (CIF) - 2023
In November 2023, the average import price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $3,111 per ton, rising by 9% against the previous month. Overall, the import price, however, showed a mild decline. The most prominent rate of growth was recorded in August 2023 when the average import price increased by 107% m-o-m. As a result, import price reached the peak level of $5,076 per ton. From September 2023 to November 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was China ($19,465 per ton), while the price for Spain ($2,342 per ton) was amongst the lowest.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Kenya (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Africa (FOB) - 2023
In November 2023, the average export price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $1,263 per ton, waning by -8.2% against the previous month. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 when the average export price increased by 15% m-o-m. The export price peaked at $1,482 per ton in January 2023; however, from February 2023 to November 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In November 2023, the country with the highest price was Lesotho ($2,610 per ton), while the average price for exports to Mozambique ($943 per ton) was amongst the lowest.
From December 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Namibia (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Africa
Imports of liquid margarine and edible mixtures of animal or vegetable fats into South Africa soared to 6.4K tons in 2022, rising by 42% on 2021 figures. In general, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +8.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +90.9% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of liquid margarine and edible mixtures of animal or vegetable fats surged to $20M in 2022. Overall, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +16.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.2% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 4.6 | 3.5 | 4.0 | 9.3 | 26.4% |
| Singapore | 2.2 | 2.6 | 4.2 | 2.9 | 9.6% |
| Kenya | N/A | 1.1 | 1.4 | 1.8 | 27.9% |
| Spain | N/A | 0.2 | 0.2 | 1.3 | 155.0% |
| Indonesia | 1.0 | 0.3 | 0.3 | 0.9 | -3.5% |
| China | 0.7 | 1.2 | 1.2 | 0.9 | 8.7% |
| Australia | N/A | 0.3 | 0.4 | 0.6 | 41.4% |
| Portugal | 1.1 | N/A | 0.1 | N/A | -69.8% |
| Others | 3.5 | 3.4 | 3.3 | 2.7 | -8.3% |
| Total | 13.1 | 12.7 | 15.0 | 20.4 | 15.9% |
Top Suppliers of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats to South Africa in 2022:
- Malaysia (3727.4 tons)
- Singapore (1022.5 tons)
- Spain (414.1 tons)
- Indonesia (369.4 tons)
- Australia (350.5 tons)
- Kenya (172.2 tons)
- China (63.6 tons)
Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Africa
In 2022, the amount of liquid margarine and edible mixtures of animal or vegetable fats exported from South Africa reached 8.5K tons, flattening at 2021 figures. In general, exports posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 91% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of liquid margarine and edible mixtures of animal or vegetable fats skyrocketed to $15M in 2022. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 76% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in South Africa (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Zimbabwe | 0.9 | 2.1 | 2.8 | 5.2 | 79.4% |
| Zambia | 0.3 | 2.3 | 5.1 | 4.2 | 141.0% |
| Lesotho | 0.4 | 0.4 | 1.2 | 1.7 | 62.0% |
| Namibia | 0.7 | 0.6 | 0.4 | 0.7 | 0.0% |
| Swaziland | 0.5 | 0.3 | 0.5 | 0.7 | 11.9% |
| Mozambique | 0.9 | 0.5 | 0.4 | 0.7 | -8.0% |
| Democratic Republic of the Congo | N/A | N/A | 0.1 | 0.5 | 400.0% |
| Botswana | 0.6 | 0.2 | 0.3 | 0.5 | -5.9% |
| Malawi | 0.1 | 0.1 | 0.5 | 0.3 | 44.2% |
| Others | 0.2 | 0.1 | 0.2 | 0.3 | 14.5% |
| Total | 4.5 | 6.6 | 11.6 | 14.8 | 48.7% |
Top Export Markets for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats from South Africa in 2022:
- Zimbabwe (2801.7 tons)
- Zambia (2634.6 tons)
- Lesotho (759.6 tons)
- Namibia (514.5 tons)
- Swaziland (511.5 tons)
- Mozambique (377.4 tons)
- Democratic Republic of the Congo (286.7 tons)
- Malawi (230.9 tons)
- Botswana (220.1 tons)
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