News archive

News archive - February-2020

Agbiz reaction on 2020 Budget: Challenging times for South Africa

This was yet another challenging budget for South Africa. It was tabled at a time of low economic growth, constrained tax revenue and higher unemployment. At the core of reviving South Africa’s economic fortunes is the sustainability of the power supply. While mismanagement of Eskom over the past few years is regrettable, we are encouraged that the government is committed to “do whatever it takes” to ensure stable electricity supply in South Africa. We hope this does not only mean a fixation to Eskom, but acceleration to the already ongoing reforms in the energy sector. The rising government debt related to especially Eskom remains a major concern. - Agbiz media statement issued on 26 February 2020

27.02.2020 / Media Releases

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South Africa’s food price inflation to remain subdued in 2020

South Africa’s food prices increased at a relatively slower pace in January 2020 compared to December 2019. The data released this morning by Statistics South Africa shows that the country’s food price inflation was at 3.7% y/y in January 2020, while the previous month was 3.8% y/y. This deceleration, however, was not across the food basket. Only price inflation of bread and cereals; fish; and vegetables decelerated. But this was enough to overshadow the increases in meat; milk, eggs and cheese; oil and fats; fruit; sugar, sweets and desserts. - Wandile Sihlobo, Agbiz chief economist

19.02.2020 / Agbiz in the news

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Agbiz responds to the 2020 State of the Nation Address (SONA) by President Cyril Ramaphosa

“Agbiz welcomes the greater realism articulated in the State of the Nation Address (SONA) by President Cyril Ramaphosa, and especially welcomes the emphasis on inclusive economic growth to address key challenges facing South Africa. Considerable reference was made to developing social compacts between government, business, labour and communities to answer these numerous challenges, including especially the high unemployment rate. Agbiz is involved in a number of these initiatives, including the development of a master plan for the agriculture and agro-processing sector, and supports this approach by the government,” Dr John Purchase, CEO of Agbiz, indicated. - Agbiz media statement issued on 14 February 2020

14.02.2020 / Media Releases

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SA agriculture jobs up marginally in Q4, 2019

The Quarterly Labour Force Survey data for the fourth quarter of 2019 show that South Africa’s primary agricultural employment increased by 4.2% (or 36 000 jobs) from the corresponding period last year to 885 000 (see Exhibit 1). The notable job gains were mainly in the Western Cape, KwaZulu-Natal, Free State and Limpopo. This was largely in the horticulture, field crops and livestock subsectors. These activities, however, were not evenly spread across all provinces. - Wandile Sihlobo, Agbiz chief economist

11.02.2020 / Agbiz in the news

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SA tractor sales down notably in January 2020

The South African agricultural machinery market started the year on a bad footing. Tractor sales were down 14% y/y, with 333 units sold. This is the lowest monthly sales data that has been recorded over the past six years. This sales data is, however, unsurprising as it is a continuation of the 2019 tractor sales trend. -Wandile Sihlobo, Agbiz chief economist

07.02.2020 / Agbiz in the news

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