In 2016 – 2017 African countries increase vegetable oil import by 6%

30 May, 2017
In 2016 – 2017 African countries increase vegetable oil import by 6%
According to Oil World, in 2016 – 2017г. African countries increase vegetable oil import by 0.7 mln. tonnes (+6%) up to 11.8 mln. tonnes

In 2016 vegetable oil import in Africa is limited due to a shortage of funds for purchases - mainly Nigeria. This causes a decline in stocks at the end of 2016 and active import at the beginning of 2017.

During the season, palm oil import in Africa will grow by 8% to 7.8 million tonnes, with Nigeria as the largest buyer.

Import of sunflower oil will grow by 0.4 million tonnes to 1.2 million tonnes, as more than the half of this quantity will be bought by Egypt.

Profitable sunflower oil prices will reduce soybean oil supply by 0.4 million tonnes to 1.2 million tonnes with the largest buyers - Egypt, Algeria and the South African Republic.

During the season the consumption of vegetable oils will reach 16.6 million tonnes, given 10.4 million tonnes in 2006 - 2007.