AFRICA REGION
Malaysian Palm Oil Exports Performance
January 2024
Regional Summary
Africa region recorded a positive development at the start of 2024 as the region recorded 23% growth in imports of Malaysian palm oil and products in January 2024 against the same period of 2023. The region, which accounted 19% of the total Malaysian palm oil export globally, behind Asia Pacific market. Palm oil is the largest import component with market share of 94% or 395,679MT. The remaining 6% are made of palm-based oleochemical (3%), PKO (1%), finished products (1%).
| Table 1: Malaysian Palm Oil and Palm Product Export to Africa | ||||
|---|---|---|---|---|
| Products | January 2024 | January 2023 | Change (MT) | Change (%) |
| Palm Oil | 395,679 | 319,961 | 75,718 | 23.66 |
| Palm-Based Oleo | 12,084 | 10,053 | 2,031 | 20.21 |
| Palm Kernel Oil | 5,728 | 6,303 | (575) | (9.12) |
| Finished Products | 5,312 | 4,423 | 889 | 20.09 |
| Other Palm Products | 200 | 400 | (200) | (50.00) |
| 419,004 | 341,140 | 77,863 | 22.82% | |
Featured Analysis
- Malaysian palm oil and palm products export to Africa in January 2024 recorded an increase of 22.82% or 77,863MT. The volume accounted for 19% of the total Malaysian palm oil and products exported globally. Palm oil components still dominates Africa market with market share of 94.4%
- Most of Malaysian palm oil exported to Africa went to East Africa (63%), North and East Africa accounted for 15% each, South Africa 4% and Central Africa 3%. Kenya, Djibouti, Egypt, Tanzania and Madagascar are the top five importers of Malaysian palm oil and palm products in Africa, accounted 71% of the total Malaysia exported to the region.
- Trade cooperation between Ethiopia and Somaliland through the signing of MoU for Somaliland port access is likely to reduce Ethiopia dependency on Djibouti ports. The situation has reflected in the growth of imports by Somalia where imports went up by more than 200% in January.
- The sanction on Niger imposed by ECOWAS has halted exports of good including palm oil to Niger via Benin ports. The situation has reflected in the drop of MPO imports by Benin which is the gateway to Niger market.
Africa Region
Malaysian palm oil export to Africa at the beginning of 2024 recorded an increase of 24% of which most the volume went to East Africa (63%), North and East Africa accounted for 15% each, South Africa 4% and Central Africa 3%. Kenya, Djibouti, Egypt, Tanzania and Madagascar accounted for 71% of the total Malaysian palm oil going into Africa market.
| Table 2 : MPO Top 10 Export Destinations | ||||
|---|---|---|---|---|
| January 2024 | January 2023 | Change (MT) | Change (%) | |
| Kenya | 89,538 | 61,755 | 27,783 | 44.99 |
| Djibouti | 68,258 | 30,594 | 37,664 | 123.11 |
| Egypt | 57,600 | 77,839 | (20,239) | (26.00) |
| Tanzania | 44,881 | 44,137 | 744 | 1.69 |
| Madagascar | 20,314 | 12,196 | 8,118 | 66.56 |
| Senegal | 16,254 | 2,024 | 14,230 | 703.26 |
| Nigeria | 16,019 | 16,428 | (410) | (2.49) |
| South Africa | 15,675 | 9,380 | 6,295 | 67.11 |
| Mozambique | 14,475 | 7,075 | 7,400 | 104.58 |
| Angola | 11,938 | 4,967 | 6,971 | 140.34 |
| Ghana | 11,206 | 6,656 | 4,550 | 68.35 |
| Somalia | 11,086 | 3,627 | 7,459 | 205.69 |
| Others | 18,437 | 43,283 | (24,846) | (57.40) |
| 395,679 | 319,961 | 75,718 | 23.66 | |
Source: MPOB
Kenya is the leading importer of Malaysian palm oil recorded 89,538MT or 45% increase y-o-y. Similarly, Djibouti import also went up more than double. The uptrend of MPO to Djibouti is to supplement increase refining capacity of edible oil refinery at the port of Djibouti.
Generally, increase in imports Malaysian palm oil in January was observed in most of major markets with the exception of Egypt and Nigeria where imports of MPO declined by 26% and 2.49% respectively. Egypt import of Malaysian palm oil dropped by 26% or 20,239MT as the market supplement part of its palm oil requirement with Indonesian palm oil.
Ethiopia has signed MoU with Somaliland in its step towards securing access to the sea and utilize one of its ports. The MoU could reflected in the increase of Somalia imports by more than 200%. Benin and Togo, two main Malaysian palm oil import hubs recorded an import declines by 47.33% and 97% respectively. The sanction on Niger imposed by ECOWAS has halted exports of good including palm oil to Niger via Benin ports.
| Table 3: Malaysian Palm Export to North African Countries | |||||
|---|---|---|---|---|---|
| January 2024 |
January 2023 |
Diff (Vol) | Diff (%) | ||
| NORTH AFRICA | |||||
| 1 | Egypt | 57,600 | 77,839 | (20,239) | (26.00) |
| 2 | Algeria | 614 | 753 | (139) | (18.44) |
| 3 | Sudan | 119 | 784 | (666) | (84.88) |
| 4 | Morocco | 65 | 21 | 44 | 206.24% |
| 5 | Libya | 49 | 73 | (24) | (33.06) |
| 6 | Tunisia | – | – | – | – |
| 7 | South Sudan | – | – | – | – |
| 58,446.66 | 79,470.24 | -21,023.58 | (26) | ||
| EAST AFRICA | |||||
| 8 | Kenya | 89,538 | 61,755 | 27,783 | 44.99% |
| 9 | Djibouti | 68,258 | 30,594 | 37,664 | 123.11% |
| 10 | Tanzania | 44,881 | 44,137 | 744 | 1.69 |
| 11 | Madagascar | 20,314 | 12,196 | 8,118 | 66.56 |
| 12 | Mozambique | 14,475 | 7,075 | 7,400 | 104.58 |
| 13 | Somalia | 11,086 | 3,627 | 7,459 | 205.69 |
| 14 | Mauritius | 331 | 202 | 129 | 64.05 |
| 15 | Comoros | 326 | 178 | 148 | 83.41 |
| 16 | Ethiopia | 88 | 1,028 | (940) | (91.44) |
| 17 | Seychelles | 47 | – | 47 | |
| 18 | Mayotte | 19 | 20 | (1) | (3.43) |
| 19 | Reunion | 17 | 10 | 7 | 69.01 |
| 20 | Eritrea | – | 539 | (539) | (100.00) |
| 249,378.93 | 161,360.97 | 88,018 | 54.55 | ||
| CENTRAL AFRICA | |||||
| 21 | Angola | 11,938 | 4,967 | 6,971 | 140.34 |
| 22 | Cameroon | 1,189 | 2,219 | (1,030) | (46.43) |
| 23 | Congo, Democratic Rep. of The | 786 | 1,748 | (962) | (55.02) |
| 24 | Sao Tome & Principe | 99 | – | 99 | |
| 25 | Gabon | – | 639 | (639) | (100.00) |
| 14,012 | 9,573 | 4,439 | 46.37 | ||
| WEST AFRICA | |||||
| 26 | Senegal | 16,254 | 2,024 | 14,230 | 703.26 |
| 27 | Nigeria | 16,019 | 16,428 | (410) | (2.49) |
| 28 | Ghana | 11,206 | 6,656 | 4,550 | 68.35 |
| 29 | Togo | 7,342 | 13,939 | (6,597) | (47.33) |
| 30 | Mauritania | 3,497 | 6,501 | (3,004) | (46.20) |
| 31 | Cote D’Ivoire | 1,458 | 1,413 | 45 | 3.15 |
| 32 | Gambia | 1,159 | 1,111 | 48 | 4.34 |
| 33 | Guinea | 858 | 290 | 568 | 195.81 |
| 34 | Benin | 326 | 10,888 | (10,562) | (97.00) |
| 35 | Liberia | 47 | 549 | (502) | (91.36) |
| 36 | Niger | – | 88 | (88) | (100.00) |
| 37 | Sierra Leone | – | 290 | (290) | (100.00) |
| 58,167 | 60,177 | (2,011) | (3.34) | ||
| SOUTH AFRICA | |||||
| 38 | South Africa | 15,675 | 9,380 | 6,295 | 67.11 |
| 39 | Namibia | – | – | – | – |
| 40 | Swaziland | – | – | – | – |
| 15,675 | 9,380 | 6,295 | 67.11 | ||
| Grand Total | 395,679 | 319,961 | 75,718 | 23.66 | |
| Table 4: Breakdown of MPO Export to Africa | ||||
|---|---|---|---|---|
| PRODUCT | January 2024 | January 2023 | Diff (MT) | Diff (%) |
| Crude Palm Olein | 92,950 | 81,812 | 11,138 | 13.61 |
| RBD Palm Olein | 84,209 | 61,159 | 23,049 | 37.69 |
| Crude Palm Oil | 77,542 | 61,817 | 15,725 | 25.44 |
| Cooking Oil | 54,611 | 55,232 | (622) | (1.13) |
| RBD Palm Oil | 38,641 | 36,802 | 1,839 | 5.00% |
| Palm Fatty Acid Distillate | 24,751 | 13,108 | 11,644 | 88.83 |
| RBD Palm Stearin | 20,080 | 6,730 | 13,350 | 198.37 |
| RSPO Certified RBD PO & RBDPL | 1,995 | 708 | 1,288 | 182.00 |
| Others | 900 | 2,593 | (1,693) | (65.31) |
| 395,679 | 319,961 | 75,718 | 23.66 | |
CPO, CPL accounted for 43% of the total MPO exported to the region. Duty differential between crude and refined product influence to offtake of these two components of palm oil. At present Kenya and Tanzania impose zero duty on crude products. Both RBD PO and RBD PL accounted for 31% of the total MPO going into the African market. Cooking oil accounted for 14% of the total MPO market. Most of cooking oil went to Angola, Somalia, Tanzania and Togo.
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