Soybean oil and fractions market in Northern Africa

Earlier Report Observations

The market volume for soybean oil and fractions in Northern Africa expanded rapidly from 2 110 thousand tonnes in 2018 to 2 517 thousand tonnes in 2019, driven by a surge in imports to 1 821 thousand tonnes and rising domestic production. After this peak, the market contracted over the next two years, falling to 2 226 thousand tonnes in 2021 as imports decreased.

A partial recovery occurred in 2022, with market size reaching 2 350 thousand tonnes, supported by production exceeding 1 million tonnes for the first time. However, in 2023, a sharp decline in production to 741 thousand tonnes led to a market volume of 2 187 thousand tonnes, despite imports remaining stable at 1 494 thousand tonnes.

In 2024, trade data indicates a reduction in imports to 1 364 thousand tonnes and a notable increase in exports to 161 thousand tonnes, suggesting a rebalancing of trade flows for the region.

Production soybean oil and fractions in Northern Africa

In kind, 2017-2020, K t

Top producers of soybean oil and fractions, 2017-2020

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

Northern Africa's production of soybean oil and fractions has grown for the third year in a row. In 2020, the region produced 925.9 thousand tons, representing an 18.7% year-over-year increase. From 2017 to 2020, production more than doubled, rising by 103.9% with an average annual growth rate of 26.8%.

Annual dynamics of production in Northern Africa in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Northern Africa's production of soybean oil and fractions has increased for the third consecutive year. In 2020, the output was valued at 1 687 million US dollars, showing a significant 38.1% rise compared to 2019. Over the 2017-2020 period, production value surged by 183.3%, with an average annual growth rate of 41.5%.

Annual dynamics of production in Northern Africa in value, 2017-2020, M $ US

Exports soybean oil and fractions from Northern Africa

Exports in kind, K t

The market exhibited volatility during these years. Exports reached their lowest point in 2018 at 54 thousand tons, then peaked in 2020 at 190 thousand tons, marking a 3.5-fold increase. In 2020, exports grew by 126.0% year-over-year. The largest decline occurred in 2018, falling by 27.6%.

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

From 2017 to 2020, the export structure in kind showed a diversified partner base. Mauritania accounted for 7.3% of exports, Mauritius for 7.2%, and Eritrea for 7.0%, together making up just 21.5% of total flows. The remaining 78.5% was distributed among numerous smaller markets.

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

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

Exports in value, M $ US

The market demonstrated volatility over the observed period. Export values fluctuated significantly, with a threefold difference between the low of 57 million US dollars in 2018 and the high of 173 million US dollars in 2020. In 2020, export value increased by 52.6% compared to the previous year. The largest decline was recorded in 2018 at 28.8%, while the largest increase occurred in 2019 at 96.9%.

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

Between 2017 and 2020, Mauritania was the largest buyer with 8.4% of export value, followed by Senegal and Mauritius each at 7.9%. Together, these three countries accounted for 24.2% of total export value, indicating a diversified market structure with many smaller partners.

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

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

Imports soybean oil and fractions to Northern Africa

Imports in kind, K t

Northern Africa imported 1 659 thousand tons of soybean oil and fractions in 2020, a moderate 8.9% decrease from the previous year. Imports reached their minimum in 2018 at 1 494 thousand tons and peaked in 2019 at 1 821 thousand tons, with the largest increase of 21.9% occurring that year. Overall, from 2017 to 2020, imports grew by 4.4%, equivalent to an annualized rate of 1.4%.

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

From 2017 to 2020, Argentina was the leading source of imports in kind with 35.9%, followed by Spain at 16.2% and Russia at 12.3%. These three countries together accounted for 64.3% of total import volumes.

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

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

Imports in value, M $ US

Northern Africa's imports of soybean oil and fractions increased for the second consecutive year. In 2020, imports amounted to 1 243 million US dollars, up 0.6% year-over-year. The lowest value was recorded in 2018 at 1 122 million US dollars, with the largest decline of 12.8% occurring that year. The largest increase was in 2019 at 10.1%. Over the 2017-2020 period, imports decreased by 3.4%, with an average annual decline of 1.1%.

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

Between 2017 and 2020, Argentina was the top supplier with 35.8% of import value, followed by Spain at 16.1% and Russia at 12.1%. These three countries combined represented 64.1% of total import value.

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

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