Refined Soybean Oil Market Overview in South Africa
In value terms, refined soybean oil production amounted to $ in 2019 estimated in export prices. Over the period under review, production continues to indicate a mild slump. Over the period under review, production reached the maximum level at $ in 2009; however, from 2010 to 2019, production stood at a somewhat lower figure.
The value of the refined soybean oil market in South Africa dropped notably to $ in 2019, with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a perceptible reduction. The pace of growth appeared the most rapid in 2010 when the market value increased by % against the previous year. Refined soybean oil consumption peaked at $ in 2011; however, from 2012 to 2019, consumption failed to regain the momentum.