The import volume of olive oil in South Africa has shown various fluctuations over the years. From 2014 to 2015, the volume remained stable at 6.0 thousand metric tons. There was a significant increase by 33.33% in 2016, followed by a drop of 12.5% in 2017, which then stabilized across 2018 and 2019. In 2020, there was a notable decrease of 17%, but by 2021 the volume rebounded by 20.48% and remained stable through to 2023.
In 2023, the import volume stood at 7.0 thousand metric tons. Over the last five years leading to 2023, the average variation per year (CAGR) was minimal. Forecasted data from 2024 to 2028 show a steady, albeit slight, upward trend with a 5-year CAGR of 0.45%, expecting moderate growth of 2.26% over this period.
Future trends to watch include shifts in global olive oil production, changes in domestic demand, potential trade agreements, and fluctuations in the South African currency which could affect import costs. An increase in health-conscious consumption patterns may also play a significant role in shaping these trends.
