South Africa

Elzabe Rockman, the Free State MEC for Agriculture and Rural Development, expressed her sincere appreciation for farmers who went out of their way to assist travellers who were left stranded on the roads during the recent heavy snowfalls in South Africa.

South Africa's agriculture sector may see some relief as the Consumer Price Index (CPI) eased to 4,4% in August, its lowest level since April 2021. This dip, down from 4,6% in July, was driven by lower transport and housing costs, with energy and fuel prices being key contributors.

The South African Reserve Bank (SARB) has lowered the policy rate by 25 basis points to 8% per annum. This will take effect from 20 September, bringing relief to debt-laden consumers and farmers.

After dropping to a 15-year low in the second quarter (Q2) of 2024, the Agbiz/IDC Agribusiness Confidence Index (ACI) showed a notable improvement in Q3, rising by 10 points to reach 48. However, the index remains below the neutral 50-point threshold, reflecting persistent concerns within the sector.

Nampo Cape in Bredasdorp attracted record numbers of visitors every day of the expo, which ran from 11 to 14 September.

During Nampo Cape, a significant partnership was announced between CASE IH and the Western Cape Department of Agriculture. This collaboration aims to enhance agricultural technology and support farmers in the region.

Land Bank has announced the successful conclusion of its debt restructuring solution, marking a critical step in its financial recovery.

The South African Cultivar and Technology Agency (Sacta) is driving new cultivar development in the seed industry through its breeding and technology levy, which supports innovation and growth across the value chain.

During an Agri in Conversation panel discussion at Nampo Cape on Wednesday, experts highlighted the cost-price-squeeze effect, urging farmers to focus on profitability and efficient use of inputs amid rising costs and market volatility.

While agribusiness confidence has been relatively low over the past few quarters, Absa’s AgriTrends 2024 Spring Edition, recently released at Nampo Cape in Bredasdorp, Western Cape, highlighted several signs that indicate a change in sentiment.

Retail sales of agricultural machinery in South Africa experienced a notable decline in August 2024, reflecting broader challenges faced by the agriculture sector.

Western Cape Minister of Agriculture, Economic Development and Tourism Dr Ivan Meyer recently handed over R14,98 million to the Citrusdal Water Users’ Association.