News archive

News archive - December-2017

Happy new year

Best wishes for 2018 to our members and stakeholders 

02.01.2018 / Agbiz in the news

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Agbiz notes with disappointment and deep concern the ANC resolution on land expropriation without compensation

“The Agricultural Business Chamber (Agbiz) has noted with disappointment and deep concern the resolution adopted by the ANC Elective Conference to amend the Constitution of South Africa to effect land expropriation without compensation, albeit subject to certain caveats and conditions regarding sustainability,” Dr John Purchase, CEO of Agbiz, stated today.

21.12.2017 / Agbiz in the news

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Competition Bill gets tough, but not necessarily unfair

On the 1st of December, the Minister of Economic Development published the Competition Laws Amendment Bill for public comments. The Bill seeks to amend the Competition Act by introducing more stringent regulation to govern mergers and acquisitions as well as further define the bounds of abusing market dominance. There is furthermore a distinct focus on transformation by making a link between market dominance and barriers to entry experienced by small, emerging black firms - Theo Boshoff, Agbiz Head: Legal Intelligence

15.12.2017 / Agbiz in the news

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SA food producer price inflation accelerates to 0.9% y/y

The headline food producer price inflation for November accelerated to 0.9% y/y from 0.4% y/y in October. The key driver of this uptick is mainly an acceleration in meat and dairy products prices. From the meat perspective, the increase is in turn driven by higher live animals’ prices, whereas dairy products prices have largely been following seasonal trends. Apart from that, other products producer prices remain at relatively lower levels, reflecting a good harvest of the 2016/17 production season - Wandile Sihlobo, Agbiz economist

14.12.2017 / Agbiz in the news

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Damages of the Western Cape’s drought on fruit production and exports, how bad is it?

Fruit account 33.2 percent share in South Africa’s total agricultural exports and the majority is produced in the Western Cape province. In 2017, fruit exports are expected to increase by 9.8 and 5.5 percent against 2016, when measured in value and quantity terms respectively - Sifiso Ntombela, Agbiz Head: International Trade and Investment

14.12.2017 / Agbiz in the news

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SA food price inflation continues to decelerate

Food inflation decelerated to 5.2% y/y last month, from 5.3% y/y in October 2017. Most food products price inflation within the basket continued to slow, reflecting the recent good harvest of grains and oilseeds. Moreover, meat price inflation, which has been somewhat stickier in the past few months, also decelerated due to an uptick in livestock slaughtering activity - Wandile Sihlobo, Agbiz economist

13.12.2017 / Agbiz in the news

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High Level Panel proposals a step in the right direction with land reform

Over the past 14 months, a High-Level Panel chaired by former President Mothlante was assembled and tasked to investigate key legislation, including those related to land reform, which required amendments to stimulate fundamental change in South Africa - Theo Boshoff, Head: Legal Intelligence

08.12.2017 / Agbiz in the news

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Cooperating to make the credit legislation work

On Wednesday Agbiz members met with the National Credit Regulator (NCR) and the South African Credit Risk and Reporting Association (SACRRA) to iron out the manner and form in which credit information is reported to credit bureaus. Regulation 19(13) to the National Credit Act obliges credit providers to submit prescribed data about their credit agreements via a national hub to accredited credit bureaus. To assist credit providers, a guideline document was published in the Government Gazette which lays out the manner in form in which this reporting will take place - Theo Boshoff, Agbiz Head: Legal Intelligence

08.12.2017 / Agbiz in the news

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Farming sector growth bucks trend of falling confidence

Over the past couple of days, we’ve had conflicting data about the performance of the South African agricultural sector. This stems from two different measures; the agricultural economy, as well as the confidence levels in the sector. Historically, the Agbiz/IDC Agribusiness Confidence Index has proven to be a good indicator of how the South African agricultural sector is to perform in the succeeding quarters. However, of late the incoming data from both the aforementioned variables shows a complete disconnect. Confidence amongst agribusiness is deteriorating, whilst agricultural economy (GDP) shows robust growth - Wandile Sihlobo, Agbiz economist *Business Day Column (7 Dec)

07.12.2017 / Agbiz in the news

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SA agricultural economy showing robust growth in Q3, 2017

After registering a 38.7% q/q (revised) growth rate in the second quarter of this year, the agricultural GDP grew by 44.2% q/q in the third quarter. This is against our expectations of a moderate growth of around the mid 20% q/q, as we think the sector should start tracking its long-term growth levels - Wandile Sihlobo, Agbiz economist

05.12.2017 / Agbiz in the news

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Agribusiness Outlook for 2018

Over the past couple of years, Agbiz has indicated that South Africa had reached a decisive T-junction on its road into the future and that critical decisions were necessary to place the country on a sustainable growth and development path. Clearly, the wrong decisions have been made by certain government leaders, especially by the President with regard to nonsensical Cabinet reshuffles, putting the country on the wrong path and into a downward spiral of near-zero growth, increased unemployment and rating downgrades - Dr John Purchase, CEO of Agbiz

04.12.2017 / Agbiz in the news

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Agbiz/IDC Agribusiness Confidence Index falls below the 50-points mark

After hovering above 50-points mark over the past five quarters, the Agbiz/IDC Agribusiness Confidence Index declined by 5 points to 49 in the fourth quarter of 2017. This essentially means agribusinesses are downbeat about business conditions in the country[1]. The Index was last seen in this contractionary territory during the drought season of 2015 and earlier part of 2016 - Wandile Sihlobo, Agbiz economist

04.12.2017 / Agbiz in the news

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High Level Panel (HLP) releases Report on Assessment of Key Legislation

Over the past 21 months, the High Level Panel on the Assessment of Legislation and the Acceleration of Fundamental Change, which has been chaired by formerPresident Kgalema Motlanthe, has criss-crossed the country to hear first-hand from the people about their experience of the laws passed by the democratic state. Numerous submissions from individuals, non-governmental organisations, academics, industry associations and many other organisations were received, including from Agbiz - Dr John Purchase (Agbiz CEO) and Theo Boshoff (Agbiz Head: Legal Intelligence) provides more information.

01.12.2017 / Agbiz in the news

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New law provides for parental, adoption and commissioning parental leave

On 28 November 2017, the National Assembly approved a Bill that will give employees in South Africa the right to 10 days parental leaveElize van der Westhuizen, Agbiz representative at the NEDLAC Labour Market Chamber. 

01.12.2017 / Agbiz in the news

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