In 2023, South Africa's wheat import stood at 1.87 million metric tons. Forecasted data shows a steady increase in imports from 2024 to 2028, reaching 1.98 million metric tons by 2028. Year-on-year variations indicate a consistent growth trend, with a percentage increase of approximately 1.06% to 1.02% each year over the forecasted period. The CAGR for the period 2024-2028 stands at around 1.14%, indicating a gradual and sustainable rise in wheat import volumes.
Future trends to watch for include shifts in global wheat production, potential changes in international trade policies, and the impact of climate changes on local crop yields which may affect South Africa's dependency on wheat imports. Additionally, fluctuations in exchange rates and global supply chain dynamics post-pandemic could influence import volumes and costs.
