Mzansi Agriculture Talk

Market Synopsis

Agri-Market Synopsis – Week 04

All information is sourced from commodity groups. 

Meat 
“Slaughtering could slightly improve in 2021 and the base effects on poultry meats, which increased in 2020 partly as a result of an import tariff hike, could also bode well for food price inflation. However, we are less optimistic on fats; the relatively weaker domestic currency and elevated global vegetable oil could mean that oils and fats price inflation could be slightly elevated for some time. In terms of fruits and vegetables, the good rains across the country could boost supplies and keep prices broadly steady” – Wandile Sihlobo, SA Weekly, Agricultural Business Chamber 

Fruits and Vegetables 
“Weekly vegetable prices extended losses across most commodities with carrots posting the biggest decrease of 28.5% week on week and 9.4% year on year at R2.50/kg, followed by potatoes and tomatoes which fell by 12% and 10.8% respectively week on wekk at R3.26/kg and R5.01/kg. Fruit prices retained the recent gains with most of the commodities tracked closing moderate to sharply higher on good uptake across markets.” – Paul Makube, Agri Weekly, FNB.

Grains 
“Maize – The local maize market was mostly volatile yesterday and closed the day’s trades mainly in the red over most of the white and yellow maize contracts currently listed. The white maize market traded lower for delivery in July 2021 R54 / ton for the day to close at R3 048 / ton. The yellow maize market traded lower for delivery in July 2021 R66 / ton to close at R3 152 / ton.

Soyabean – The local soybean market traded volatile for the day yesterday and ended the day’s trading weaker over most of the contract months currently listed. The local soybean market traded for delivery in May 2021, R29 / ton lower for the day to close at R7 720 / ton.

Wheat – The local wheat market mostly came under pressure yesterday and traded weaker on some of the contracts currently listed. The local wheat market for delivery in July 2021 traded R28 / ton lower and closed at R5 262 / ton.” Ikageng Maluleke, Morning Grain Market Commentary, Grain SA.

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