Soybean oil and fractions market in Cameroon

Earlier Report Observations

The soybean oil market in Cameroon saw substantial growth from 2018 to 2021, with production increasing from 11.1 thousand tons to 18.2 thousand tons and market volume reaching 18.3 thousand tons. This expansion was underpinned by the activation of local processing capacity, notably the soybean transformation plant operated by Sodecoton in the Far North region, which contributed directly to domestic output. The coordinating role of the Association of Oilseed Refiners of Cameroon (ASROC), which brings together seven industrial refining units including those specializing in soybean oil, further strengthened the local supply chain.

After the 2021 peak, production and market volume experienced a dip in 2022 to 15.8 thousand tons and 16.5 thousand tons respectively, followed by a partial recovery in 2023 to 17.5 thousand tons and 17.6 thousand tons. The period from 2021 to 2023 saw these fluctuations without specific disruptive events, indicating a market adjusting to internal supply and demand balances.

The year 2024 brought notable regulatory and infrastructural developments, including the government's decision to lift the ban on bulk vegetable oil sales and the announcement of four new refining plants, among them the Société de Raffinage du Cameroun (Sorac) with a planned annual capacity of 100 000 tons. These changes point to an evolving market structure aimed at enhancing local production and distribution.

Production soybean oil and fractions in Cameroon

In kind, 2017-2020, t

Top producers of soybean oil and fractions, 2017-2020

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

Cameroon's production of soybean oil and fractions has grown for the third year in a row. In 2020, the country produced 16,540 tonnes, marking a significant 44.6% increase from the previous year. Looking at the period from 2017 to 2020, production rose by 62.9%, which translates to an average annual growth rate of 17.7%.

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

Exports soybean oil and fractions from Cameroon

Exports in kind, t

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

From 2017 to 2020, Gabon was the sole buyer of soybean oil and fractions from Cameroon, accounting for 100.0% of all exports in kind during this period.

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

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

Exports in value, K $ US

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

In value terms, Gabon dominated Cameroon's export partner structure from 2017 to 2020, consistently making up 100.0% of total export flows.

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

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

Imports soybean oil and fractions to Cameroon

Imports in kind, t

The import market for soybean oil and fractions in Cameroon showed considerable volatility over these years. Imports hit their lowest point in 2017 and peaked in 2018, with a 40-fold difference between these two years. In 2020, imports dropped sharply to 419 tonnes, a 74.8% decrease compared to 2019. The highest import volume was recorded in 2018 at 1,695 tonnes, which represented a massive 3,922.1% increase from the previous year.

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

Between 2017 and 2020, Ukraine, the United States, and Paraguay were the main sources of imports in kind for Cameroon. Ukraine led with 50.6% of imports, followed by the United States at 15.2% and Paraguay at 12.6%. Together, these three countries accounted for 78.4% of total import flows.

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

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

Imports in value, K $ US

Import values in money terms also displayed irregular patterns, reflecting a volatile market. The lowest point was in 2017, while the peak occurred in 2019, with a 43-fold variation between these years. In 2020, imports totaled 373,000 US dollars, a steep 75.8% decline from the previous year. The maximum value was recorded in 2019 at 1,542,000 US dollars, following a substantial 4,177.4% increase in 2018.

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

From 2017 to 2020, Ukraine, Paraguay, and Belgium emerged as the key markets for Cameroon's imports in value terms. Ukraine accounted for 49.2% of imports, Paraguay for 15.7%, and Belgium for 13.1%. Collectively, these three partners represented 77.9% of total import flows.

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

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