Vegetable oil market trends in South Africa

Published Nov 29, 2023

Tridge summary

South Africa has a well-developed cultivation of oilseeds that satisfy consumer demand for vegetable oils and meals domestically, except for palm oil which is imported from Malaysia and Indonesia. In 2022, South Africa imported 786.9 thousand tons of vegetable oils worth $1.1 billion, with palm oil occupying the largest share at 58.9% of the import value. The largest increase in import volume was seen in sunflower oil, while there was a significant reduction in the supply of soybean oil.

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Original content

The cultivation of oilseeds in South Africa is well developed, and therefore consumer demand for vegetable oils and meals is satisfied mainly through domestic production. The only exception is palm oil - it is not produced in the country. According to USDA data, the country produces more than 700 thousand tons of vegetable oils (mainly soybean and sunflower oils). The basis of vegetable oil consumption in the country is palm (36.9%), sunflower (32.9%), soybean (22.1%) and rapeseed (4.7%) oil. Unlike other types of oils, palm oil is not produced in South Africa and is imported from Malaysia and Indonesia. In 2022, South Africa imported 786.9 thousand tons of vegetable oils worth $1.1 billion. The volume of imports of this category of products increased relative to 2021 by 12.3% (+86.3 thousand tons) in volume terms and by 37.0% (+302.3 million US dollars) in value terms. In the structure of South African vegetable oil imports, the largest share was occupied by palm oil, which ...

Source: Oilworld