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South Africa recorded an agricultural trade surplus of $1.5 billion (about R22bn) in the second quarter of this year, which represented a year-on-year increase of 40 percent, according to the Agricultural Business Chamber (Agbiz).
Fuel price reprieve welcomed by farmersVal van der Walt
Reduction in diesel price will bring relief for farmers if sustained over a period of several months
‘The reduction in the price of diesel that came into effect on 5 May, though small, will bring relief for farmers if sustained over a period of several months.’
So said Kulani Siweya, agricultural economist at Agri SA, in an interview with Farmer’s Weekly.
He said the price decrease is welcomed, particularly against the backdrop of the general increases in input costs such as the electricity hike and rise in the minimum wage.
‘In the first four months of the year we had already seen (cumulative) increases of close to R3/litre for petrol and R2.32/litre for diesel,’ Siweya said.
SA agriculture told to seize the day and sow AfCTA opportunities
By Given Majola
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DURBAN - THE SOUTH African agricultural sector was urged by the government to seize opportunities and sow growth provided by the African Continental Free Trade Agreement (AfCFTA), which started at the beginning of the year.
The new market, created under the AfCFTA agreement, is estimated to be as large as 1.3 billion people across Africa, with a combined gross domestic product (GDP) of $3.4 trillion (R48trl).
Sphamandla Mazibuko, of the Department of Agriculture, Land Reform & Rural Development (DALRRD) International Trade directorate, said the potential trade opportunities the AfCFTA would bring for the agriculture sector included breaking strong intra-regional FTA trade as South Africa’s exports were currently concentrated in Southern Africa.
Agriculture wants the Budget to give clarity on Land Bank liquidity
By Given Majola
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DURBAN - THE AGRICULTURAL sector is hoping that Finance Minister Tito Mboweni will follow through on assisting the Land Bank with its liquidity challenges in the National Budget tomorrow.
The Agricultural Business Chamber s (Agbiz s) chief economist, Wandile Sihlobo, said yesterday that the sector would be closely watching to see if there would be any follow-through to assist the financier, especially in the context of t he country s fiscal constraints.
“It is a vital point that agricultural role players will most likely be watching the National Treasury s messaging about the Land Bank, which has been experiencing liquidity challenges for a while. In the Medium-Term Budget Policy Statement presented in October 2020, Finance Minister Tito Mboweni noted that the Land Bank would require an additional R7 billion over the medium term to support its restructuring,“ said Sihlobo.