The demand for soybeans in South Africa is forecasted to grow steadily from 2024 to 2028, increasing from 1.86 million metric tons in 2024 to 2.06 million metric tons in 2028. In 2023, the actual demand stood at 1.81 million metric tons. The year-on-year variation reveals a consistent growth pattern of approximately 2.69% from 2024 onwards.
Future trends to watch for include:
- Increasing local consumption due to rising awareness of plant-based diets.
- Growing demand from the animal feed industry driven by expanding livestock production.
- Potential impacts of climate change on soybean yields and supply chain disruptions.
- Government policies influencing agricultural practices and import-export dynamics.
