Market Synopsis

Agri Market Synopsis Week 15

Top News: “Lettuce prices posted the biggest decrease last week at R4.72/kg, which is down by 38.5% week-on-week (w/w) and 15.6% year-on-year (y/y).” Paul Makube, FNB 

“Maize: Local maize futures traded mostly higher during yesterday’s session. July white maize futures traded R50 higher and closed the session off at R3250/ton. July yellow maize futures traded R53higher and close the session off R3378/ton. Maize exports for the week ending April 16, totalled 25 932 tons, with 20 080 tons of white maize and 5852 tons of yellow maize. The main destination for both is our neighbouring countries; Botswana, Namibia, Zimbabwe, Eswatini etc. 

Soyabean: The local soybean market found support yesterday and traded stronger for the day in most of the contract months currently listed.

Wheat: The local wheat market found support yesterday and traded stronger for the day in most of the contract months currently listed.” – Ikageng Maluleke, Grains SA Market Commentary 

Pork: “The Average Purchasing Price (excl. sows) reached R28.58/kg (in nominal terms) during Week 15 of 2021, down 2.6% from Week 14. The SAFEX Yellow Maize (R/kg) averaged R3 340/ton for this week, resulting in the Purchasing Price to SAFEX Yellow Maize ratio reaching 8.83. The quantity of animals sampled during this week amounted to 32 211 pigs.” – South African Pork Producers Organisation, Industry Report. 

“Although tomato prices paused last week after surging in the past few weeks, they remained at record levels relative to last year at R19.52/kg which is almost 111% higher y/y. Signs of improvement in volumes augurs well for consumers.
In the fruit complex, the biggest gainer was pears with a weekly increase of 16% supported by good uptake at R34.28/kg and still 10.7% higher y/y.  On the export front, pear volumes for week 15 of the 2021 export season fell by 11% y/y to 657,274 cartons (15kg).” – Paul Makube, FNB Agri Weekly 

Citrus “Generally, grapefruit have followed an alternative bearing trend, with 2021 being an “on” year. The estimated volume for 2021 is 16% greater than the volume exported in 2020.  The volumes are shown in 17 Kg cartons, and reveal that the 2021 export volume is marginally higher than the 2013 volumes, but some half a million cartons off the 2018 record grapefruit export crop.” – Citrus Growers Association, From the Desk of the CEO

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