Africa: Soya Bean Market 2024

Soya Bean Market Size in Africa

After six years of growth, the African soya bean market decreased by X% to $X in 2022. Overall, consumption, however, showed resilient growth. The level of consumption peaked at $X in 2021, and then contracted in the following year.

Soya Bean Production in Africa

In value terms, soya bean production totaled $X in 2022 estimated in export price. In general, production saw a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

The countries with the highest volumes of production in 2022 were South Africa (X tons), Nigeria (X tons) and Togo (X tons), with a combined X% share of total production.

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

In 2022, the average yield of soya beans in Africa expanded rapidly to X tons per ha, surging by X% against 2021. The yield figure increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the soya bean yield reached the maximum level in 2022 and is expected to retain growth in years to come. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The soya bean harvested area reduced to X ha in 2022, falling by X% compared with 2021. The total harvested area indicated a buoyant expansion from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, soya bean harvested area increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2016 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2021, and then contracted in the following year.

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Soya Bean Exports

Exports in Africa

In 2022, overseas shipments of soya beans increased by X% to X tons, rising for the eighth consecutive year after two years of decline. In general, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, soya bean exports soared to $X in 2022. Over the period under review, exports saw a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Togo (X tons) represented the main exporter of soya beans, constituting X% of total exports. South Africa (X tons) held the second position in the ranking, distantly followed by Mozambique (X tons) and Nigeria (X tons). All these countries together held approx. X% share of total exports. Ethiopia (X tons), Tanzania (X tons), Malawi (X tons), Ghana (X tons), Benin (X tons), Burkina Faso (X tons) and Zambia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to soya bean exports from Togo stood at X%. At the same time, Tanzania (X%), Nigeria (X%), Burkina Faso (X%), Mozambique (X%), Ghana (X%), Benin (X%), Malawi (X%), Ethiopia (X%), Zambia (X%) and South Africa (X%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Togo, Mozambique, Nigeria, Tanzania, Ghana, Ethiopia, Malawi and Burkina Faso increased by X, X, X, X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) emerged as the largest soya bean supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Togo ($X), with a X% share of total exports. It was followed by Ethiopia, with a X% share.

In South Africa, soya bean exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (X% per year) and Ethiopia (X% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price showed a perceptible shrinkage. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ethiopia ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Soya Bean Imports

Imports in Africa

In 2022, after eight years of growth, there was significant decline in supplies from abroad of soya beans, when their volume decreased by X% to X tons. Over the period under review, imports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, soya bean imports reduced to $X in 2022. In general, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then dropped slightly in the following year.

Imports by Country

Egypt prevails in imports structure, recording X tons, which was near X% of total imports in 2022. Algeria (X tons) took the second position in the ranking, followed by Tunisia (X tons). All these countries together held near X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to soya bean imports into Egypt stood at X%. At the same time, Algeria (X%) and Tunisia (X%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Algeria and Egypt increased by X and X percentage points, respectively.

In value terms, Egypt ($X) constitutes the largest market for imported soya beans in Africa, comprising X% of total imports. The second position in the ranking was taken by Algeria ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Egypt stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Algeria (X% per year) and Tunisia (X% per year).

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 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 2014 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Tunisia ($X per ton), while Egypt ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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