Key Market Indicators
South Africa's oilseeds consumption is projected to rise to approximately 266,000 metric tons by 2028, up from 239,000 metric tons in 2023. This represents an average annual growth rate of 1.7%. Since 2019, the nation's demand for oilseeds has increased by 2.2% each year. In 2023, South Africa ranked 33rd globally in oilseeds consumption, with the Dominican Republic slightly ahead at 239,000 metric tons. Leading the global rankings were India, Indonesia, and Brazil, in second, third, and fourth places respectively. On the production front, South Africa's oilseeds output is expected to reach around 688,000 metric tons by 2028, up from 638,000 metric tons in 2023. This marks a compound annual growth rate (CAGR) of 1.2%. Historically, since 1966, the country's oilseeds production has declined by 2% per year. In 2023, South Africa was ranked 34th in oilseeds production, with Bolivia slightly ahead at 638,000 metric tons. The top spots in global oilseeds production were held by Brazil, Malaysia, and the United States, ranking second, third, and fourth respectively.
