The oilseeds processing industry in South Africa displayed consistent growth from 2014 to 2023, with values ranging from 1.85 million metric tons to 2.26 million metric tons in 2023. Notably, the year-on-year growth rate varied significantly over the past decade, peaking in 2018 with a 23.84% increase but showing minor fluctuations thereafter. The Compound Annual Growth Rate (CAGR) also shifted through this duration, with the latest five-year average CAGR standing at -0.59%, indicating a slight overall decline.
Looking ahead to the forecast period from 2024 to 2028, a slight upward trend is anticipated with a forecasted five-year CAGR of 0.45% and an overall growth rate of 2.28%. This suggests a period of modest yet steady growth in oilseeds processing.
Future trends to watch for:
- Technological advancements in processing techniques, improving efficiency.
- Changes in domestic and international demand for oilseeds products.
- Impact of climate change on crop yields and supply chains.
- Regulatory changes and their implications for the industry.
- Potential shifts in global trade policies affecting exports and imports.
