Two of South Africa’s milling giants,Pioneer Foods and Premier Foods, as well as Pride Milling and Godrich Flour Mills, have quit their membership of the National Chamber of Milling and are no longer required to submit sales information to the chamber.The move has caused alarm about the chamber’s ability to gather crucial industry information. This information is used by millers, farmers, the Reserve Bank and the Department of Agriculture, Forestry and Fisheries (DAFF). A lack of information will make it difficult to track the staple food trends and to calculate statistics like the gross domestic product (GDP).
25.04.2010 / Agbiz in the news
The ABC/IDC Agribusiness Confidence Index remains in negative territory (<50 Index points), even though it improved somewhat in comparison to the preceding quarter, as well as in comparison to the same quarter of the previous year. Agribusiness confidence rose almost to the levels recorded at the end of 2008. According to Mrs Lindie Stroebel, the economic intelligence manager at the Agricultural
Business Chamber (ABC) and compiler of the index, it would have been convenient to speculate whether it will return to the positive (even peaking) period in mid-2008. However, Stroebel warned that it would be dangerous, considering the expectations of lower commodity prices, strong exchange rates and the variable weather and production conditions being experienced, with specific reference also to the severe drought conditions in the southern and south eastern parts of the country.
28.03.2010 / Agbiz in the news