In 2023, South African maize production stood at 13.3 million metric tons. Reviewing the year-on-year variations over the past two years, maize production experienced an increase of 1.36% in 2022 and a similar increase of 1.33% in 2023. The compound annual growth rate (CAGR) over the last five years stood at 2.15%. Looking ahead, from 2024 onwards, maize production is forecasted to grow at a CAGR of 0.98%, totaling an estimated 14.14 million metric tons by 2028, resulting in a forecasted 5.01% growth over the next five years.
Future trends to watch for include:
- Impact of climate change and extreme weather patterns on crop yields
- Technological advancements in agriculture and their adoption rates
- Changes in government policies regarding agriculture and subsidies
- Shifts in global demand and export markets for South African maize
- Trends in input costs such as seeds, fertilizers, and labor
