In 2023, the soybean supply in South Africa stood at 2.88 million metric tons. Since then, the forecasted data shows an incremental growth in supply: 3.02 million metric tons in 2024, 3.17 million metric tons in 2025, 3.32 million metric tons in 2026, 3.47 million metric tons in 2027, and 3.62 million metric tons in 2028. The year-on-year variation is approximately 5% to 5.3% from 2024 to 2028. The Compound Annual Growth Rate (CAGR) over these five years is roughly 4.7%, indicating strong and steady growth in soybean supply.
Future trends to watch for:
- Technological advancements in agricultural practices that may enhance yield.
- Fluctuations in global soybean demand and pricing.
- Impact of climate change and weather patterns on crop production.
- Government policies and subsidies affecting soybean farming.
