This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 3/7/2017

Overview                                                                                                                       

Madagascar has relied mainly on imports of vegetable oil after the destruction of the only company engaged in domestic manufacturing of this product, belonging to ousted president Marc Ravalomanana, following the 2009 coup d’état.  Since then, the value of imports has risen tenfold.  Domestic production is now limited to small artisanal units that process oil from peanuts, with poor or second-hand packaging.  Data on market size and production are not available.
    Units: USD thousands
 201320142015
(Jan-May)		2016
(estimated)
Total Market SizeN/AN/AN/AN/A
Total Local ProductionN/AN/AN/AN/A
Total Exports764900575N/A
Total Imports59,34956,62516,332N/A
Imports from the U.S.3,8770379N/A
Exchange Rate 1 USD2,308.322,414.812,738.88N/A
Total Market Size= (Total Local Production + Total Imports) - (Total Exports)
Data Sources:
Total Local Production: N/A
Total Exports: Malagasy Customs (FOB)
Total Imports: Malagasy Customs (CIF)
Imports from U.S.: Malagasy Customs (CIF)
Products covered are within HTS Chapter 15 named “Fat and animal and vegetable oils” and HTS 4 digit code 1507, 1508, 1509, 1510, 1511 and 1512 which are refined palm oil, sunflower oil, olive oil, peanut oil, soybean oil and not genetically modified.           

Opportunities                                                                                 

Considering that the U.S. market share accounts for 2.3% of the entire vegetable oil market, there is still room for U.S. exporters to increase their sales in this sector through the establishment of a sales agent or by negotiating with a well-known importer or distributor.  The Unites States is the fifth-largest source of imports in this sector after Indonesia, Argentina, Malaysia and Egypt.  In 2015 to date, the only imports of vegetable oil to Madagascar from the U.S. were imported by NGOs and relief organizations.

Resources                                                                    

For additional information on export opportunities in the vegetable oil sector, potential exporters can contact the Ministry of Commerce, the American Chamber of Commerce, or other business associations.  Please also do not hesitate to contact the Embassy’s Political-Economic Section for more information.
 
 

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