Africa: Linseed Oil Market 2024

Linseed Oil Market Size in Africa

In 2022, the African linseed oil market decreased by X% to $X, falling for the second year in a row after four years of growth. Overall, consumption, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Linseed Oil Production in Africa

In value terms, linseed oil production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Linseed Oil Exports

Exports in Africa

In 2022, shipments abroad of linseed oil increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, linseed oil exports expanded to $X in 2022. In general, exports, however, showed a mild curtailment. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Gambia was the key exporter of linseed oil in Africa, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. South Africa (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Sierra Leone (X%), Morocco (X%) and Tanzania (X%). The following exporters - Ethiopia (X tons) and Mali (X tons) - each reached a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Tanzania ($X) and Sierra Leone ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Ethiopia, Morocco, Gambia and Mali lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Ethiopia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price, however, showed a measured increase. The pace of growth was the most pronounced in 2017 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ethiopia ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (X%), while the other leaders experienced more modest paces of growth.

Linseed Oil Imports

Imports in Africa

In 2022, after two years of decline, there was significant growth in supplies from abroad of linseed oil, when their volume increased by X% to X tons. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, linseed oil imports shrank to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Gambia was the major importer of linseed oil in Africa, with the volume of imports recording X tons, which was near X% of total imports in 2022. It was distantly followed by Nigeria (X tons), comprising a X% share of total imports. The following importers - South Africa (X tons), Ethiopia (X tons) and Guinea-Bissau (X tons) - each reached a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to linseed oil imports into Gambia stood at X%. At the same time, Nigeria (X%) and Guinea-Bissau (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. By contrast, Ethiopia (X%) and South Africa (X%) illustrated a downward trend over the same period. Gambia (X p.p.), Nigeria (X p.p.) and Guinea-Bissau (X p.p.) significantly strengthened its position in terms of the total imports, while South Africa saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Gambia ($X) constitutes the largest market for imported linseed oil in Africa, comprising X% of total imports. The second position in the ranking was held by South Africa ($X), with an X% share of total imports. It was followed by Ethiopia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Gambia stood at X%. In the other countries, the average annual rates were as follows: South Africa (X% per year) and Ethiopia (X% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, which is down by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Africa ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ethiopia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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