South Africa: Oilseeds and Products Annual
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South Africa has experienced an upsurge in oilseed plantings over the past 20 years with a near nine-fold expansion in soybean area. Post foresees that the positive trend in soybean plantings will continue in marketing year 2023/24 with area and oilseed production reaching historically high level of 1.8 million hectares and 3.6 million metric tons, respectively. However, with local crushing nearing capacity and domestic demand stagnating, South Africa’s exports of oilseeds could reach a record high of 800,000 metric tons in marketing year 2023/24. South Africa is currently experiencing unprecedented power outages, high utility costs, inflation, and rising interest rates. These challenges are likely to delay significant investment in the processing sector.
