The oilseeds market in South Africa has seen significant fluctuations over the past decade. Starting from a volume of 134 Thousand Metric Tons in 2014, it experienced a massive 116.42% increase in 2015 but dropped by 53.1% in 2016, indicating a volatile market. The market showed substantial recovery post-2016, stabilizing with moderate growth. By 2023, the market reached 239 Thousand Metric Tons, marking a 2.58% year-on-year increase and a steady 2.23% CAGR over the last five years. Forecasts suggest a continued, albeit slower, growth rate, with a forecasted CAGR of 1.71% leading to a market size of 266.24 Thousand Metric Tons by 2028.
Future trends to watch for include:
- Technological advancements in agricultural practices.
- Government policies affecting production incentives or restrictions.
- Climate change impacts on yield and production capacity.
- Global market trends and their influence on local supply and demand.
