News archive

News archive - April-2018

2018 Agbiz Congress - Agricultural markets will grow but prices will remain the same

Agricultural markets will grow but prices will stay more or less as they are today. The only way for agricultural producers to remain in business is to build their margins. This was the message of Prof Marcos Fava Neves, professor at the Business School of Economics, Business Administration and Accounting at the University of São Paulo, Brazil, to the 2018 Agbiz Congress.

11.07.2018 / Agbiz in the news

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2018 Agbiz Congress - Agriculture cannot be measured in terms of money alone

Agriculture and agribusinesses annually contribute around 14% of total GDP to the economy of South Africa but the value of these sectors cannot be measured in money alone. They make a huge contribution to rural development and sustainable employment. At last calculation, the turnover of Agbiz members, including lending exposure of financial institutions, was in the region of R400 billion per annum, considerably greater than the total farm-gate value of agricutural production in South Africa. The participation of Agbiz members is, therefore, crucial to take agriculture and agribusiness forward in South Africa, said Dr John Purchase, CEO of Agbiz in his opening address at the 2018 Agbiz Congress.

11.07.2018 / Agbiz in the news

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South African tractor sales grew by 19% y/y in June 2018

The South African tractor sales increased by 19% y/y in June, with 569 units sold, which is the highest sales figure for the corresponding month in a dataset starting from 2014. This far exceeds our expectations of modest sales of 471 units, which is a surprise given that June is a fairly quiet month in terms of planting for both summer and winter crop areas. – Wandile Sihlobo, Agbiz economist

09.07.2018 / Agbiz in the news

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SA agricultural economy contracted by 24.2% q/q in the first quarter of 2018

The negative effects of the Western Cape drought are evident in the first quarter GDP data, which showed that South Africa’s agricultural economy contracted by 24.2% q/q.1 This far exceeds our expectations of a modest contraction of about 11% q/q. – Wandile Sihlobo, Agbiz economist

09.07.2018 / Agbiz in the news

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SA maize and soybean production forecasts revised upwards

South Africa is in for a fairly good harvest in 2017/18 production season, albeit being less than the record achieved in 2016/17 season. This was confirmed by the fifth production forecasts released by the National Crop Estimate Committee earlier. Most summer crop production forecasts were revised upwards from previous month’s levels, with the exception of sunflower seed, sorghum and dry beans which were left unchanged. – Wandile Sihlobo, Agbiz economist

09.07.2018 / Agbiz in the news

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Agbiz gearing up for the President’s proposed jobs summit

At his maiden State of the Nation Address in February, President Ramaphosa announced that a jobs summit would be convened in 2018 to elevate the key challenge of unemployment, with a special emphasis on youth unemployment, to the top of the national agenda. The aim of the summit is not limited to creating formal employment opportunities but rather to creating viable economic opportunities, including the creation of new enterprises and self-employment opportunities. The summit seeks to address the constraints to job creation, affirm targets and commitments from different entities and solicit proposals for specific projects. To this end, government has enlisted the help of social partners at Nedlac where Agbiz will play a leading role through Business Unity South Africa (BUSA). – Theo Boshoff, Head: Legal Intelligence

06.07.2018 / Agbiz in the news

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