What is the price of palm oil per kilogram/pound in South Africa today?
The retail price range for South Africa palm oil is between US$ 2.94 and US$ 2.94 per kilogram or between US$ 1.33 and US$ 1.33 per pound(lb). Click here to see today's exact prices of palm oil in South Africa
The retail price range in Rand for palm oil is between ZAR 57.07 and ZAR 57.07 per kilogram or between ZAR 25.88 and ZAR 25.88 per pound(lb) in Johannesburg and Cape Town.
Wholesale prices
In 2024, the approximate wholesale price range for South Africa palm oil is between US$ 2.06 and US$ 2.06 per kilogram or between US$ 0.93 and US$ 0.93 per pound(lb).
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South Africa Palm Oil Export Prices - Historical, Trends and Prediction
In 2016, the export price of Palm Oil from South Africa was US$ 1.11per Kg. In 2017, the export price was US$ 1.03 per Kg. In 2018, the export price was US$ 0.90 per Kg. In 2019, the export price was US$ 0.81 per Kg. In 2020, the export price was US$ 1.37 per Kg. For 2021, the export price is estimated to be US$ 1.79 per Kg. For 2022, the export price is predicted to be US$ 2.01 per Kg. and in 2023 it's predicted to be 2.35.
The exports of palm oil from South Africa are classified as:
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
- Crude palm oil (HS code 151110)
- Crude palm kernel and babassu oil (HS code 151321)
South Africa Palm Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Palm Oil into South Africa has seen a steady decline over the past five years. In 2011, the price was 1.67 US dollars per kg, and by 2020, it had dropped to 0.81 US dollars per kg. This represents a decrease of 51.5%. In 2021, the price increased to 1.37 US dollars per kg, but in 2022, it dropped again to 1.79 US dollars per kg. Based on this trend, it is likely that the price of Palm Oil in South Africa will remain relatively stable in the next two years. We can predict that the price in 2023 will be around 1.37 US dollars per kg, and in 2024, it will be around 1.79 US dollars per kg.Export values for South Africa palm oil
The total values in export for palm oil in South Africa were US$ 17,729, US$ 20,224, US$ 16,381 and US$ 15,326 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in South Africa: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of palm oil in other countries across Africa: Algeria palm oil, Angola palm oil, Botswana palm oil, Burundi palm oil, Cameroon palm oil, Cape Verde palm oil, Central African Republic palm oil, Comoros palm oil, DRC Congo palm oil & Benin palm oil.
South Africa palm oil - Production, Exports, Imports, Seasons and HS Codes
In 2019 South Africa sold 50,407,305 tonnes of palm oil. For the year 2019 alone, the interest in South Africa palm oil (processed category) has surged, with a change of 1.346 per cent compared to the year 2018. Between 2017 and 2019, palm oil's exports went down by -10.73% earning the nation US$15.33m for the year 2019. South Africa's palm oil exports are categorised as:
- Crude palm kernel and babassu oil (HS code 151321)
- Palm oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 151190)
- Crude palm oil (HS code 151110)
- Palm kernel and babassu oil and their fractions, whether or not refined, but not chemically modified (excluding crude) (HS code 151329)
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South Africa palm oil export values
In 2019, South Africa sold palm oil costing 15.33m USD, a decrease of -6.42% from 2018's total palm oil export of 16.381m USD. The yearly change in value of South Africa palm oil between 2017 to 2018 was -19.002 pc.
The yearly variation in the volume of South Africa's palm oil exports between 2017 and 2019 was -10.73 percent when compared to a variation of 1.346% in the growth rate between 2018 and 2019.
South Africa's portion of the world's total palm oil's exports in 2019 was less than 1%. The country is ranked position 16 in world exports of palm oil.
Export markets for South Africa palm oil ( in '000$ )
South Africa's best performing export markets for palm oil are Lesotho, Zimbabwe, Swaziland (Eswatini), Zambia and Malawi.
Import/Export Trends
South Africa is a net exporter of palm oil. The annual growth of South Africa palm oil in value between 2015 to 2019 was 14%, per annum, while annual growth in quantity during the same period was 6%, per annum.
South Africa purchased 533,928 tonnes of palm oil in 2019.