Market Synopsis

Agri Market Synopsis – Week 08

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

Table Grapes
“The South African Table Grape Industry (SATI) released the 4th Crop Estimate for the 2020/2021 season with intake volumes increased to between 67,2 million and 70,9 million cartons (4.5 kg equivalent) due to the earliest 2 regions concluding their packing and ongoing favourable harvest conditions in the 3 Western Cape grower regions.  The estimate for the Northern Provinces was increased to between 7,8 and 7,9 million cartons and for the Orange River to between 18,3 and 18,5 million cartons. The Olifants River was adjusted to between 4,0 and 4,2 million cartons and the Berg River to between 16,5 and 17,3 million cartons. The estimate for the Hex River region remains unchanged” – South African Table Grapes Industry (SATI), 

Fresh Produce 
Vegetables: “In the vegetable complex, prices were moderate to sharply higher across most commodities under review except for onions and tomatoes that posted losses relative to the week earlier. The biggest gainers were cabbages and butternuts with weekly increases of 14.6% and 11.8% respectively at R2.86/kg and R2.44/kg but were both still sharply down by almost 26% year-on-year (y/y). Potatoes and carrots came in slightly higher by 2.1% and 1.7% respectively week-on-week (w/w) at R3.08/kg and R4.07/kg, while lettuce was almost unchanged w/w at R15.68/kg.”

Fruits: “Except for bananas which saw weekly gains of 2.4% at R8.65/kg, prices were down across the fruit complex led by avocados. Weekly avocado prices fell by a whopping 16% w/w but still 15% above last year at R21.50/kg. Apples, grapes, and mangoes followed with weekly decreases of 6.1%, 5.9% and 5.9% respectively at R8.56/kg, R14.87/kg, and R14.16/kg. Pears were also softer at R33.73/kg, down 1.7% w/w but almost 91% higher relative to the same week in 2020. The yearly trend in fruit prices  tracked shows gains across most categories while 57% of the vegetable commodities were moderate to sharply lower relative to the same week in 2020” – Paul Makube, FNB Agri Weekly 

Grains
Maize – “The local maize market traded volatile yesterday over all the contracts listed for white and yellow maize. The white maize market traded R 2 / ton higher for delivery in July 2021 for the day to close at R 3 105 / ton. The yellow maize market traded R 2 / ton higher for delivery in July 2021 to close at R 3 217 / ton.” 

Soyabean: “The local soybean market yesterday lost support over all contracts currently listed. The local soybean market traded for delivery in May 2021, R7 / ton lower for the day to close at R7 712 / ton.”

Wheat: “The local wheat market lost support yesterday and ended weaker over all listed contracts. The local wheat market traded R 1 / ton higher for delivery in July 2021 and closed at R 5 322 / ton.” – Ikgageng Maluleke, Grains SA Market Commentary 

Meat 
“Domestically, meat prices have followed the same trend as that of the global market majorly due to feed costs and lower supply levels. Mutton and cattle prices were recorded higher when compared to the previous month (January) as well as the previous year (2020). For mutton, the average price for A2/A3 was 2.1% higher m-o-m and 12.6% y-o-y. However, prices are expected to be lower in March with a 95% chance based on the previous data trends. Beef prices were 0.3% higher m-o-m and 11.6% higher y-o-y. Average pork prices have been lower in February 2021 due to an increase in pork supply and are expected to be even lower in March 2021. Unlike pork prices, poultry prices have been relatively higher in February 2021.” National Agricultural Marketing Council, Market Intelligence Report

Mohair 
“The second sale of the 2021 summer season took place in Port Elizabeth today, 2 March 2021, with 95 734 kg on offer of which 97% was sold. The offering consisted of good quality mohair, with individual clips achieving excellent results. Buyers competed actively for the good quality mohair on offer, which reflects the current demand for mohair. RMS-certified mohair once again achieved the best results. The continuous growth in demand combined with the weaker SA currency resulted in the market gaining 8% (6% in dollar terms) from the previous sale to close on R355.53 p/kg. A highest price of R774.10 p/kg was paid for a bale 23 micron good style kid mohair. Compared to the previous sale, prices were as follows: Kids Up 12%, Young Goats Up 12%,  Fine Adults Up 6%, Strong Adults Up 11%, Average Up 8%.” Mohair SA, Mohair Auction Results

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