Palm oil and fractions market in Angola

Earlier Report Observations

Between 2018 and 2020, Angola's palm oil market volume grew from 162.1 thousand tons to a peak of 253.7 thousand tons. This expansion was supported by ongoing interest from the Ministry of Agriculture and private businesses in scaling up palm oil production through large projects and international partnerships, alongside a significant import license granted in 2020 for $21 million, indicating sustained demand. The period reflected a national focus on leveraging Angola's vast agricultural potential for palm cultivation.

In 2021, market volume contracted sharply to 170.3 thousand tons. This decline was primarily driven by new regulations established by Executive Decrees No. 29/21 and No. 30/21, which set rules for the import, storage, transport, and commercialization of oils and lubricants, tightening import flows and reducing overall supply.

From 2022, the market showed recovery, with volume reaching 252.5 thousand tons, followed by a moderation to 196.9 thousand tons in 2023. A key development was the inauguration of the Refitec refinery in Cuanza Norte in 2023, with a daily processing capacity of 500 tons of palm and other vegetable oils, boosting local production and aiming to reduce import dependency. By 2024, the sector attracted major investments, including a $220 million agro-industrial project and a strategic memorandum for refined palm oil production and export, signaling strong institutional and private commitment to developing the local industry.

Production palm oil and fractions in Angola

In kind, 2017-2020, t

Top producers of palm oil and fractions, 2017-2020

World map of production of palm oil and fractions, 2017-2020

Angola's palm oil and fractions production has increased for the third consecutive year. In 2020, the country produced 57 000 tonnes, marking a 3.6% rise compared to 2019. Over the 2017-2020 period, production grew by 11.8%, with an average annual growth rate of 3.8%.

Annual dynamics of production in Angola in kind, 2017-2020, t

Exports palm oil and fractions from Angola

Exports in kind, K t

The market experienced significant fluctuations during this period. Exports reached their lowest point in 2017 and peaked in 2019, with a staggering 10 178-fold difference between these years. In 2020, Angola's palm oil and fractions exports amounted to 0.1 thousand tonnes, representing a sharp 77.9% decrease from the previous year.

Annual dynamics of product's exports from Angola in kind, 2017-2020, K t

From 2017 to 2020, Angola's export structure in physical terms was highly concentrated, with Congo alone accounting for 99.4% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Angola in kind, 2017-2020

Exports in value, M $ US

The market demonstrated considerable volatility throughout the observed period. Exports hit their lowest point in 2017 and peaked in 2019, showing a remarkable 363-fold variation. In 2020, Angola's palm oil and fractions shipments abroad totaled 0.0 million US dollars, indicating a substantial 79.3% decline from 2019.

Annual dynamics of product's exports from Angola in value, 2017-2020, M $ US

During the 2017-2020 period, Congo dominated the geographical structure of Angola's palm oil and fractions exports in value terms, accounting for 98.8% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Angola in value, 2017-2020

Imports palm oil and fractions to Angola

Imports in kind, K t

Market behavior was characterized by volatility during these years. Imports reached their lowest point in 2017 and peaked in 2019, with a 23-fold variation between these years. In 2020, Angola's foreign palm oil and fractions supplies totaled 196.8 thousand tonnes, showing a moderate 6.2% decrease compared to 2019. The maximum value was recorded in 2019 at 209.8 thousand tonnes, while the largest increase occurred in 2018 with a remarkable 1 109.7% growth.

Annual dynamics of product's imports to Angola in kind, 2017-2020, K t

From 2017 to 2020, Malaysia and Indonesia together accounted for 89.1% of Angola's total palm oil and fractions imports in physical terms, with the remaining volume distributed among smaller markets.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Angola in kind, 2017-2020

Imports in value, M $ US

The market showed an unstable trend throughout this timeframe. Imports hit their lowest point in 2017 and peaked in 2019, with a 15-fold gap between these years. In 2020, Angola imported 204.7 million US dollars worth of palm oil and fractions, marking a 4.8% decrease from the previous year. The maximum value was recorded in 2019 at 215.0 million US dollars, while the largest increase occurred in 2018 with a substantial 975.9% growth.

Annual dynamics of product's imports to Angola in value, 2017-2020, M $ US

During the 2017-2020 period, Malaysia and Indonesia continued to dominate Angola's import markets in value terms, together representing 86.4% of total flows, while other partners played a supplementary role.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Angola in value, 2017-2020