The maize production in South Africa has shown significant fluctuations over the last decade. In 2013, the value stood at 1.89 billion Euros, and it dipped to 1.69 billion Euros in 2014, with a year-on-year decline of 14.03% and 10.68%, respectively. The smallest value was observed in 2015 at 1.61 billion Euros. Maize production saw a notable increase in 2017, up by 39.91% from the previous year, reaching 2.28 billion Euros. The highest actual value to date was seen in 2020, peaking at 2.3 billion Euros.
Recent data in 2023 shows a slight growth of 1.99% to a value of 2.2 billion Euros. Over the past five years, the compound annual growth rate (CAGR) turned out to be 5.63%, indicating steady growth. Moving forward, forecasts predict a continued rise, reaching 2.41 billion Euros by 2028. The forecasted 5-year CAGR is moderated at 1.44%, with an overall forecasted 7.39% growth rate for the next five years.
Future trends to watch for include market responses to climate variability, technological advancements in farming practices, and macroeconomic factors affecting input costs and maize demand both domestically and globally.
