Mzansi Agriculture Talk

Agriculture

Agri Market Synopsis Week 05

All information is sourced from commodity groups

Citrus Exports

“South Africa production is expected to rise 3 percent to 1.7 million tons due to expected normal weather conditions, an increase in area harvested with new plantings of high yielding and late maturing varieties, and improved water management. Exports are forecast up slightly to 1.3 million tons and account for over one-quarter of global trade. The EU is expected to remain

South Africa’s largest market, accounting for over one-third of exports” – USA, Foreign Agricultural Service

Meat

“Internal beef prices generally traded positively this week, with only the price of chuck decreasing 1.0% w eek-on-week. The average price of porkers decreased 2.4% from the previous w eek to R32.73/kg, while the average price of baconers declined 1.9% to R31.00/kg week-on-week. The average price of frozen birds rose 1.9% to R26.71/kg and that of fresh w hole birds increased 2.3% to R27.86kg in the local poultry market this w eek. Individually quick frozen (IQF) poultry prices w ere 2.8% higher at R25.60/kg w eek-on-w eek. The domestic poultry industry is under pressure as high feed costs are squeezing margins” – Abrie Rautenbach, Marlene Louw & Paige Bowen, ABSA Agri-trends

Grains

“Maize – The local maize market found mostly support yesterday and traded stronger on all the white and yellow maize contracts currently listed. The white maize market traded R14 / ton higher for delivery in July 2021 for the day to close at R3 146 / ton. The yellow maize market traded R17 / ton higher for delivery in July 2021 to close at R3 288 / ton.

Soyabean – The local soybean market traded volatile for the day yesterday but mainly closed the day’s trades weaker over some contract months currently listed. The local soybean market traded for delivery in May 2021, R27 / ton lower for the day to close at R7 743 / ton.

Wheat – The local wheat market yesterday received support for all contracts listed. The local wheat market for delivery in July 2021 traded R11 / ton higher and closed at R5 338 / ton.” – Ikageng Maluleke, Grains SA, Market Commentary 

Tractor

“December tractor sales of 432 units were significantly (24%) more than the 349 units sold in December last year. On the full calendar year basis tractor sales were almost 9% more than for the 2019 calendar year. In December there were three combine harvester sales, the same as in December last year. For the full calendar year combine harvester sales were 25.0% up on the previous year. Initial estimates for the 2021 calendar year are quite encouraging, with sales likely be up to 10% higher than in 2020” – Karel Munnik, South African Agricultural Machinery Association.

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