The oilseeds market in Africa has exhibited moderate growth over the past decade, with the volume reaching 8.29 million metric tons in 2023. The historical data shows periods of robust growth in the mid-2010s, peaking in the 2017 at a 5.56% year-on-year increase, followed by a slight contraction in 2018. The market stabilized afterward with modest annual increments through to 2023. Notably, the last recorded year-on-year growth for 2023 stood at 0.81%, with a five-year compound annual growth rate (CAGR) of 0.59%, indicating a steady yet slow upward trajectory.
Key trends to monitor for future include:
- Resilience against market fluctuations and economic challenges.
- Technological advancements in agriculture and oilseed production.
- Impact of climate change and sustainability practices.
- Potential policy changes and agricultural initiatives in Africa.
