Agri-Market Synopsis is a weekly agricultural markets economic insight sourced from various agricultural commodities.
Citrus
“The South African citrus industry will likely break all previous export season records with an estimated 158.7 million cartons in 2021. If the estimate is reached, it would represent a third consecutive season of record export volumes, with 130 million cartons exported in 2019, followed by 146 million cartons in 2020. Our current projections for 2021 indicate a 22% growth in export figures in just 2 years” – The Citrus Growers Association
Dairy
The average milk price set by dairy processors still remained the same at R5.20/l. Changes in consumer behaviour and preference are expected to continue to support the demand for dairy products. In the past week, the average milk to maize price ratio was weaker by 0.2% w/w at 1.55 due to a stronger yellow maize price. The average milk to maize price ratio is, however, still above the long-term average of 1.4. – Maine Mofokeng, Standard Bank, Bi-Weekly Livestock
Mohair
“167 887 kg on offer of which 99% was sold. The offering is the biggest quantity of the year so far and consisted of some excellent quality mohair. The buying houses competed actively for all types of mohair on offer with RMS-certified mohair attracting the most competition. The average market indicator increased by 11% (increased by 13% in dollar terms) from the previous sale, to close on R395.08 p/kg despite the SA currency trading stronger. A highest price of R848 p/kg was paid for a bale 24-micron super style kid mohair” – Mohair SA
Fresh Produce
“The pace of apples and pears exports so far 2021 have been pedestrian relative to 2020. The cumulative year to date (week 9) apple and pears exports fell by 4% and 11% year-on-year at 2.025 million cartons and 3.26 million cartons (12.50kg). In the vegetables, prices were moderate….the biggest gainers were tomatoes with sharp weekly increases of 40.1% week on week and 122% year on year at R17.24kg. They were followed by onions and carrots with weekly increases of 16.6% w/w and 10.1% y/y at R3.76kg and R7.06kg” – Paul Makube, FNB AgriWeekly.
Grains
“Maize – local maize futures traded mostly lower yesterday. July white maize futures closed the session off R61 lower at R3040/ton and July yellow maize futures closed the session off R62 lower at R3225/ton. White maize exports for the week totalled 23 452 tons mainly destined for Zimbabwe, Botswana and Namibia, bringing the cumulative total to 947 323 tons. Yellow maize exports totalled 11 599 tons, mainly destined for Zimbabwe and Eswatini; this bring the cumulative total to 1.3 million tons.
Soyabean – local soybean futures also traded in the red yesterday. May soybean futures traded R109 lower and closed the session off at R7662/ton.
Wheat – local wheat futures traded lower yesterday. July wheat futures traded R52 lower and closed the session off at R5103/ton. Wheat imports for the week ending March 12, totaled 34 026 tons, mainly coming from Poland and Latvia, bringing the cumulative total to 663 414 tons” – Ikageng Maluleke, Grain SA Market Commentary
