South Africa's soybean oil domestic consumption was 325.0 thousand metric tons in 2023. As of 2024, consumption is forecasted to be 329.0 thousand metric tons. Year-on-year, the consumption is expected to grow by 1.52% in 2025, 1.20% in 2026, 1.48% in 2027, and 1.17% in 2028. The compound annual growth rate (CAGR) over the next five years is projected to be approximately 1.33%.
Future trends to watch for include potential impacts from domestic agricultural policies, international trade agreements, and the increasing adoption of healthier dietary choices influencing demand for soybean oil in South Africa. Additionally, advances in agricultural technology could affect production and, consequently, consumption patterns.
