This is a weekly agricultural market economic insight of the agricultural environment sourced from various agricultural commodities.
“The yearly trend in local meat prices still shows an upward trend across most categories except for poultry prices which remains mixed with both frozen and fresh whole bird prices still in negative territory y/y while IQF turned positive in recent trades. At this rate, the monthly consumer price inflation for meat is expected to remain sticky on the upside relative to last year in the next Stats SA update. The meat CPI increased by 4.4% y/y during September 2020” – Paul Makube, senior agricultural economist, FNB Agri-Weekly
“Maize: The local maize market mostly came under pressure on Friday and traded lower for the day in most of the contract months of both white and yellow maize currently listed. The white maize market traded R12 / ton lower for delivery in December 2020 for the day to close at R3 415 / ton. The yellow maize market traded R12 / ton lower for delivery in December 2020 to close at R3 383 / ton.”
“Soyabean: The local soybean market mostly came under pressure on Friday and traded lower for the day in most of the contract months currently listed. For delivery in December 2020, the local soybean market traded R44 / ton lower for the day to close at R8 636 / ton.”
“Wheat: The local wheat market mostly came under pressure on Friday and closed lower for the day in most of the contract months currently listed. The local wheat market traded for delivery in December 2020, R33 / ton lower to close at R4 953 / ton.” – Ikageng Maluleke, grains economist, Grain SA Morning Grain Market Commentary
Agri produce exports
“In the third quarter of 2020, South Africa saw a record quarterly exports of US$3.2 billion, which is an increase of 5% on a year-on-year basis. The growth in agricultural exports was primarily underpinned by citrus, wine, maize, nuts, deciduous fruit and sugar cane. These products will continue to support South Africa’s agricultural exports in the last quarter of 2020” – Wandile Sihlobo, chief agricultural economist, Agriculture Business Chamber SA Weekly Agricultural Viewpoint
“Apricot: The apricot season is expected to be up 23% compared to last season. The increase is due to better winter rain and a cooler spring. The season is estimated to be 7—10 days later. Apricots inspected and passed for export YTD week 44 = 226 eqv. cartons compared to the previous season.”
“Nectarines: A projected increase of 11% is expected for nectarines compared to last season’s volumes. The increase is due to young orchards coming into production as well as new cultivars with higher yields. The early season is estimated to be up 6%, mid-season 24% and late season 11% compared to 2019/2020. The season is estimated to be 7—10 days later.”
“Peaches: The Peach season is estimated to be up 3% compared to the previous season. Early season volumes expected to be down 2%. The season is estimated to be 7—10 days later.”
“Plums: Plum exports are estimated to be up 23% compared to the previous season. Early season volumes expected to be up 23% whilst Mid and Late season volumes estimated to be up 9% and 39% respectively compared to 2019/2020. This is a result of young orchards coming into production as well better winter rains and cooler spring conditions.” – Nina Viljoen, agricultural economist, Hortgro Stone Fruit Inspection and Estimate
Disclaimer: The information presented here is not a reflection nor endorsement by Mzansi Agriculture Talk. Some of the economic insights are estimates. Interested parties wishing to gain more insight should contact the mentioned individuals.