https://en.sputniknews.africa/20250303/south-africas-agricultural-exports-grow-by-3-reaching-record-high-in-2024-business-chamber-says-1070914971.html
South Africa's Agricultural Exports Grow by 3%, Reaching Record High in 2024, Business Chamber Says
South Africa's Agricultural Exports Grow by 3%, Reaching Record High in 2024, Business Chamber Says
Sputnik Africa
While South Africa's agricultural exports hit a record high in 2024, the chief economist of the Chamber of Agricultural Business noted that were it not for... 03.03.2025, Sputnik Africa
2025-03-03T13:03+0100
2025-03-03T13:03+0100
2025-03-04T13:59+0100
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In 2024, South Africa's agricultural exports reached a record $13.7 billion, up 3% from the previous year, driven by higher export prices and increased volumes, Chief Economist of the Agricultural Business Chamber of South Africa Wandile Sihlobo said on Monday.A total trade surplus in the agricultural sector of South Africa totaled more than $6 billion despite challenges such as drought and animal diseases, he noted.Key markets included the African continent (44%), the EU (19%), and the Middle East/Asia (21%), while exports to the US accounted for 4%, Sihlobo pointed out, adding that South African exporters would prefer duty-free access to the US under AGOA, which, according to him, is crucial for competitiveness.While the export basket was diverse, including various fruits such as citrus, grapes, apples, and avocados, as well as wine, maize, wool, and red meat, the products were differentiated by region, with fruit and wine dominating exports to the EU, cereals and red meat to Africa, and a mix of goods to Asia and the Middle East.Meanwhile, agricultural imports jumped 8% to $7.6 due to higher prices of some commodities bought by the country, such as wheat, rice, palm oil, poultry, and whiskey.Products varied by region, with fruits and wine dominating exports to the EU, grains and red meat to Africa, and a mix of goods to Asia and the Middle East.
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South Africa's Agricultural Exports Grow by 3%, Reaching Record High in 2024, Business Chamber Says
13:03 03.03.2025 (Updated: 13:59 04.03.2025) Elizaveta Roschina
Writer/Editor
While South Africa's agricultural exports hit a record high in 2024, the chief economist of the Chamber of Agricultural Business noted that were it not for various challenges, such as the mid-summer drought and animal diseases, exports would have reached the targeted $14 billion.
In 2024, South Africa's agricultural exports reached
a record $13.7 billion, up 3% from the previous year, driven by higher export prices and increased volumes, Chief Economist of the Agricultural Business Chamber of South Africa Wandile Sihlobo said on Monday.
"Last year, South Africa's agricultural exports reached a record $13.7 billion. That is up 3% from the exports of the previous year. It's a function of both the increase in prices and the bigger volumes in some of the products," the chamber's economist said on X.
A total trade surplus in the agricultural sector of South Africa totaled more than $6 billion despite challenges such as drought and animal diseases, he noted.
Key markets included the African continent (44%), the EU (19%), and the Middle East/Asia (21%), while exports to the US accounted for 4%, Sihlobo pointed out, adding that South African exporters would prefer duty-free access to the US
under AGOA, which, according to him, is crucial for competitiveness.
While the export basket was diverse, including various fruits such as citrus, grapes, apples, and avocados, as well as wine, maize, wool, and red meat, the products were differentiated by region, with fruit and wine dominating exports to the EU, cereals and red meat to Africa, and a mix of goods to Asia and the Middle East.
"This year, the year is shaping up well. Farmers have planted, agricultural conditions are favorable, and I think that our exports will remain robust. That's, of course, assuming that no major risks come from the export markets part," he forecasted.
Meanwhile, agricultural imports jumped 8% to $7.6 due to higher prices of some commodities bought by the country, such as wheat, rice, palm oil, poultry, and whiskey.
Products varied by region, with fruits and wine dominating exports to the EU, grains and red meat to Africa, and a mix of goods to Asia and the Middle East.
