Mzansi Agriculture Talk

Market Synopsis

Agri Market Synopsis -Week 03

Agri-Market Synopsis is a weekly agricultural markets economic insight sourced from various agricultural commodities.

Grains 

Maize  
“The local maize market mostly came under pressure on Friday and traded weaker on some white and yellow maize contracts currently listed. The white maize market traded R24 / ton higher for delivery in July 2021 for the day to close at R3 144 / ton. The yellow maize market traded R32 / ton higher for delivery in July 2021 to close at R3 265 / ton.

Soybeans 
The local soybean market mostly came under pressure on Friday and traded weaker over all contract months currently listed. The local soybean market traded for delivery in May 2021, R4 / ton lower for the day to close at R8 256 / ton.  

Wheat 
The local wheat market mostly received support on Friday and traded stronger on all the contracts currently listed. The local wheat market for delivery in March 2021 traded R120 / ton higher and closed at R5 344 / ton.” – Ikageng Maluleke, Grains SA, Morning Grain Market Commentary.

Fresh Produce 
“Seasonal and mid-month demand pressure kept vegetable prices on the downside while the fruit category bucked the trend and posted sharp gains relative to the week earlier and further retaining the uptrend year-on-year (y/y). Weekly vegetable prices fell sharply midmonth led by lettuce, carrots, and butternuts which decreased by 30.9%, 30%, and 26.6% week on week (w/w) at R7.45/ kg, R3.50/ kg, and R1.82/ kg respectively. Tomatoes were however the exception and finished almost 31% higher w/w and up 16% y/y at R5.62/ kg, while onions closed a bit firmer but still down by 9.8% y/y R4.06/ kg.After a slow start early in JAN 2021, fruit prices rebounded strongly across most commodities. Avocados were the biggest gainers and closed almost 40% higher w/w but still 11% down on last year at R41.97/kg. They were followed closely by apples, mangoes, and grapes with weekly increases of 21.5%, 12.3%, and 3.9% respectively at R11.48/ kg, R13.36/ kg, and R15.40/ kg. The current apple, mango, and grape prices are 21%, 35.8%, 6.2% higher relative to the 2020 levels.” – Paul Makube, FNB, Agri Weekly

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