Soybean oilcake market in Zimbabwe

Earlier Report Observations

The soybean oilcake market in Zimbabwe experienced significant volatility between 2018 and 2021. Following a sharp contraction in 2019, market volume rebounded strongly, reaching over 117,000 t by 2021. This recovery was primarily driven by concerted efforts from the Oil Expressers Association of Zimbabwe (OEAZ), which secured funding to boost domestic soybean cultivation during the 2020/2021 season. The initiative aimed to increase local output and reduce reliance on crude oil imports, directly expanding the supply of raw material for oil extraction and consequently increasing the production of soybean oilcake.

Market growth continued into 2022, with volumes surpassing 132,000 t, though production of oilcake itself declined. The subsequent year saw a market correction, with total volume falling to approximately 103,000 t. During this period, price signals emerged as a key factor, with soybean farmers receiving around US$520 per tonne on the Zimbabwe Mercantile Exchange for the 2023/2024 marketing season. Simultaneously, farmers called for more robust regulatory systems for contract farming, reflecting structural shifts in supply chain relationships that could influence long-term production stability and input costs.

The operating environment for the sector is further defined by strong underlying demand, estimated at 220,000 t of soybeans annually for uses in animal feed and oil processing. However, the industry faces persistent challenges from production costs that are higher than regional peers. Government policy has been actively supportive, with the Grain Marketing Board setting a pre-planting price and the Ministry of Lands' summer production plan explicitly targeting increased soybean output. These measures, alongside the promotion of certified seeds and improved soil preparation practices, are geared towards enhancing yield and securing the raw material base for the oilcake market.

Production soybean oilcake in Zimbabwe

In kind, 2017-2020, t

Top producers of soybean oilcake, 2017-2020

World map of production of soybean oilcake, 2017-2020

In 2020, Zimbabwe produced 41 500 tonnes of soybean oilcake, representing a strong year-over-year increase of 12.3%. However, looking at the broader period from 2017 to 2020, production actually declined by 35.3%, with a compound annual growth rate of -13.5%. The lowest production level was recorded in 2019 at 36 943 tonnes, while the peak occurred in 2018 with 65 428 tonnes. The most significant drop was observed in 2019, when production fell by 43.5%.

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

Exports soybean oilcake from Zimbabwe

Exports in kind, t

In 2020, Zimbabwe's foreign soybean oilcake exports amounted to 33 tonnes, showing little change from the previous year. Compared to 2019, exports remained stable. Over the 2017-2020 period, exports surged by 5 400%, with a compound annual growth rate of 280.3%.

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

From 2017 to 2020, Zimbabwe's soybean oilcake exports were almost entirely directed to South Africa, which accounted for 100.0% of total exports in volume terms.

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

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

Exports in value, K $ US

In 2020, the value of soybean oilcake exports from Zimbabwe reached 3 thousand US dollars, with minimal change year-over-year. Over the 2017-2020 period, export values increased by 701.7%, with a compound annual growth rate of 100.1%.

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

During 2017-2020, South Africa was the dominant buyer of Zimbabwean soybean oilcake in value terms, capturing 100.0% of total exports.

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

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

Imports soybean oilcake to Zimbabwe

Imports in kind, t

Import volumes showed considerable volatility during these years. The lowest point was in 2019 at 26 812 tonnes, while the peak occurred in 2018 with 50 703 tonnes, resulting in a 1.9-fold difference between these two years. In 2020, soybean oilcake imports into Zimbabwe totaled 30 238 tonnes, marking a substantial increase of 12.8% compared to the previous year. The largest decline was recorded in 2019 at 47.1%, while the most significant increase was in 2018 at 71.2%.

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

From 2017 to 2020, Zambia was the primary source of soybean oilcake imports into Zimbabwe, accounting for 73.5% of total imports in volume. Other destinations contributed smaller shares.

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

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

Imports in value, K $ US

In 2020, the value of soybean oilcake imports into Zimbabwe reached 20 222 thousand US dollars, reflecting a 67.7% increase compared to 2019. Over the 2017-2020 period, import values grew by 20.3%, with a compound annual growth rate of 6.3%. The lowest value was recorded in 2019 at 12 062 thousand US dollars, while the highest was in 2018 at 23 636 thousand US dollars. The most notable decline occurred in 2019, when import values fell by 49.0%.

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

Throughout 2017-2020, Zambia and Malawi were the key markets for Zimbabwe's soybean oilcake imports in value terms, together representing 92.9% of total imports. Other destinations had relatively minor shares.

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

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