Africa (Jan – Feb) 2020

Malaysian Palm Oil Exports Performance to Sub-Saharan Africa Region
(Jan – Feb 2020)
A Review on MPO Export Performance

Table 1: Top Importers of Malaysian Palm Oil from Sub-Saharan Africa

 Jan-Feb 2020 (MT)Jan-Feb 2019 (MT)Diff Vol. (MT)Diff (%)
South Africa27,38634,585(7,199)(20.82)
Cote D’Ivoire6,7165,2131,50428.84
Congo Dem. Rep.4,96411,554(6,589)(57.03)

Source : MPOB

Malaysian palm oil export to Sub-Saharan Africa for the period of Jan-Feb 2020 dropped by 16.3% to 309,266 MT from 369,637 MT registered in the same period last year. In terms of product breakdown, CPO/CPL dominated with 45.8% of total import or 141,507 MT. RBD palm olein with 121,988 MT of import volume contributed about 39.4% of total MPO import into the region. (Figure 2)

Imports of MPO from the region was mostly subdued due high prices in early part of the year and competition from another exporting countries. Countries with major drops in intakes of Malaysian palm oil include Nigeria (<25,463 MT), Mozambique (<22,321 MT), Angola (<17,137 MT), and Senegal (<6,998 MT). 

Tanzania was the largest buyer last month with 30,426 MT, mostly in the form of RBD palm olein which constituted about 87.4% of the country’s palm oil import. Refining industry in Tanzania totally collapsed since last year after Tanzanian government revised duty structure that makes CPO import virtually uneconomical. Mozambique, Tanzania, Togo, Ghana and South Africa and rounded off top 5 buyers from the region.

Figure 1: Monthly Export of MPO to Sub-Saharan Africa (MT)

As other countries reduced their palm oil imports from Malaysia, Mozambique rise to become top importer of MPO in the region with 44,633 MT. However, this volume is still lower from last year (Jan-Feb2019) figure of 66,955 MT by 33.3 %. Bulk of Mozambique MPO imports (80%) are in the form of CPO/CPL for its refineries. Togo imports is mostly in the form of CPL (23,074 MT).

Figure 2: Breakdown of MPO Exports (%) Feb 2020

Source : MPOB

CPO/CPL and RBD Palm Olein continued to be the top categories of MPO palm oil products exported into the region with each product made up of about 45.8% and 39.4% respectively. However, RBD Palm Oil export dropped by 25.1% from almost 162,761 MT to just 121,988 MT. Countries with high imports of CPO/CPL include Mozambique, Ghana, Togo, Nigeria and Kenya. RBD palm olein exports went down by 48.2% to 42,830 MT from 82,732 MT in January 2019.

Table 2:  Breakdown of MPO Exports Products to Sub-Saharan Africa (MT)

PRODUCTJan-Feb 2020Jan-Feb 2019Diff (MT)Diff (%)Jan-Dec 2019
RBD PL 121,988162,761(40,773)(25.05)907,556
RBD PO3,7103,10360719.5683,225
RBD PS13,67718,894(5,217)(27.61)64,651
Cooking Oil17,33424,705(7,371)(29.84)107,807

Source : MPOB

For the month of March 2020, MPO export to the region is not expected to perform much better due to countries across Africa have begun to initiate lockdowns as cases of Covid-19 rise above 1,000. Despite the drop in palm oil price, annual inflation in Nigeria rose for the sixth straight month in February 2020 to a near two-year high as the impact of the country’s closed borders continued to be felt. According to the Nigerian National Bureau of Statistics, the rise in the food index was caused by increases in prices of bread and cereals, fish, meat, vegetables, and oils and fats. The drop in crude oil prices in the past few weeks will weigh heavily on petroleum producing countries in the region such as Nigeria, Angola and Republic of the Congo.

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