South Africa's agriculture sector recorded a trade surplus in Q2 of 2024, albeit at a reduced pace, with exports declining slightly by 0.1% year-on-year to $3.37bn, according to Trade Map data. The agriculture trade surplus decreased to $1.47bn, a 6% drop from the previous year. This downturn follows a robust Q1 performance, where exports grew by 6% year-on-year and the trade surplus expanded by 20%.
The global commodity price environment and weak import demand contributed to the subdued export figures in Q2. Despite logistical challenges, there was an improvement in port performance, thanks to ongoing collaboration between Transnet and the agriculture sector stakeholders, facilitating smoother product transit to international markets.
Key exports included a variety of horticulture commodities such as citrus, avocados, apples, pears, grapes, dates, and pineapples, alongside field crops like maize, sugar and more.
Citrus exports saw a 10.7% decrease from initial estimates, affected by adverse weather conditions in certain production areas. Maize exports experienced a significant drop of 36% year-on-year in Q2, with a 45% decline for the season to date, attributed mainly to reduced yellow maize shipments.
Source: bizcommunity.com