Wandile Sihlobo, Agbiz, 7 July Agri Hour
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#Agbiz: 2020 the recovery year for agriculture
And... as usual on a Tuesday, Wandile Sihlobo, Chief Economist at the Agricultural Business Chamber of South Africa, Agbiz, provides a weekly insert about the latest on the global as well as South African agricultural markets.
Here is Sihlobo....
(FOR THE WEB: He says despite the ongoing challenges presented by the Covid-19 pandemic, South Africa’s recent agricultural economic data have reaffirmed the view that this year will be a recovery year for the sector following two consecutive years of declining fortunes. Data released last week by Statistics South Africa, showed gross value added (GVA) in agriculture expanded by 27.8% on a quarter-to-quarter (q/q) basis .
Together with that primary agricultural employment increased by 3% (27 000 jobs) from the corresponding period last year to 865 000 (albeit down, marginally, by 2% q/q). However allied industries, such as agricultural machinery sales painted a mixed picture. Positively, combine harvester sales were up 14% year-on-year (y/y) in the first quarter. However, tractor sales were down 17% y/y.
And... as usual on a Tuesday, Wandile Sihlobo, Chief Economist at the Agricultural Business Chamber of South Africa, Agbiz, provides a weekly insert about the latest on the global as well as South African agricultural markets.
Here is Sihlobo....
(FOR THE WEB: He says despite the ongoing challenges presented by the Covid-19 pandemic, South Africa’s recent agricultural economic data have reaffirmed the view that this year will be a recovery year for the sector following two consecutive years of declining fortunes. Data released last week by Statistics South Africa, showed gross value added (GVA) in agriculture expanded by 27.8% on a quarter-to-quarter (q/q) basis .
Together with that primary agricultural employment increased by 3% (27 000 jobs) from the corresponding period last year to 865 000 (albeit down, marginally, by 2% q/q). However allied industries, such as agricultural machinery sales painted a mixed picture. Positively, combine harvester sales were up 14% year-on-year (y/y) in the first quarter. However, tractor sales were down 17% y/y.
