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South Africa’s agricultural exports on track to beat 2020

Screen Shot 2021-08-16 at 1.35.57 PM

Source: Wandile Sihlobo, Agbiz e-newsletter, News24, photo credit: Circular

South Africa’s agricultural sector is export-orientated. Nearly half of the annual produce, in value terms, is exported in regular and good seasons.

The 2020/21 season has been one such season, producing the second consecutive strong output performance, with an even larger harvest for major field crops, horticulture and the wine industry than in 2019/20. This robust production could boost exports to surpass the 2020 level of US$10,2 billion.

For example, in the first quarter of 2021, agricultural exports amounted to US$2,9 billion, which is a 28% year-on-year (y/y) increase. We now have the full data for the second quarter which showed an even stronger performance with exports valued at US$3,2 billion, up 36% y/y.

This means that in the first half of 2021, South Africa’s agricultural exports amounted to US$6,1 billion, which is a 30% y/y increase. Compared with last year, the growth is partly because of base effects, as the first half of 2020 was heavily affected by the Covid-19 related disruptions to global supply chains. Still, the growth reflects rising export performance for various products.
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