South Africa's rapeseed oil production has shown steady growth from 2013 to 2023, reaching a volume of 52.18 thousand metric tons in 2023. Over the years, the industry experienced fluctuations with significant dips in 2017 and 2018. From 2021 to 2023, production grew more moderately, with a year-on-year increase of 3.16% in 2023. The compound annual growth rate (CAGR) from 2019 to 2023 was 4.48%, indicating a steady rise in production volume.
Looking ahead, from 2024 to 2028, the production of rapeseed oil is expected to grow at a forecasted 5-year CAGR of 2.33%, reaching 60.52 thousand metric tons by 2028. This forecast suggests a continued, albeit slower, growth trajectory in the coming years.
Trends to watch for include:
- Potential impacts of climate change on crop yields.
- Shifts in global demand for vegetable oils.
- Technological advancements in agricultural practices.
- Policy changes and their influence on production incentives or restrictions.
