AgriSA acknowledges the latest Gross Domestic Product (GDP) figures released this week by Stats SA regarding the third quarter of 2024.
“At this stage, the data calls for further analysis but we are aware that drought plagued the production of field crops such as maize, soya beans, wheat and sunflower. Adverse weather conditions also hindered the production of subtropical fruits, deciduous fruits and vegetables in parts of the country,” says Kulani Siweya, AgriSA chief economist.
The broader economic environment remains complex, influenced by global factors such as geopolitical tensions, the ongoing war in Ukraine, inflation, and domestic challenges including infrastructure issues, rural decay, and high energy costs.
“As the year draws to a close, we start to reflect on the trends that shaped our business environment. Thus far, what made 2024’s challenges unique was the combination of farm-level profitability amid a changing global order that is increasingly regionalised and protectionist in its trade positioning. The increasing emphasis on sustainable farming and climate adaptation is also spurring industries to reflect on the future of their market priorities., says Johann Kotzé, AgriSA chief executive officer (CEO).
“Looking ahead, it is vital that we enhance logistical efficiency, retain our current markets, and explore new export opportunities, particularly within BRICS+ countries,” adds Siweya. “We believe that, with the right policies and support, South African agriculture can lead in driving inclusive growth and job creation.”
As the country navigates this dynamic landscape, AgriSA emphasises the importance of fostering a stable and conducive environment for agriculture to thrive, driving market-oriented growth and creating inclusive opportunities across the sector.
For further information, please contact:
Johann Kotzé, AgriSA chief executive officer (CEO).
jfk@agrisa.org.za
