February 2021

26 February 2021 – South Africa’s consolidated fiscal deficit is expected to narrow this year because of an economic rebound, although the long-term trend of higher debt remains unchanged due to Covid-19 and pre-existing spending, a Reuters poll forecast on Friday. In a poll taken this week, 2021 economic growth was expected to rebound to […]

25 February 2021 – Cheap chicken imports flooding the South African market, with dumping margins as high as 201%, have spurred the South African Poultry Organisation (Sapa) to yet again lobby for the institution of duties in the sector against Brazil, Denmark, Ireland, Poland and Spain. This comes as the broiler body claims it has

24 February 2021 – The African continent’s southernmost country, the Republic of South Africa shipped US$86.1 billion worth of goods around the globe in 2020. That dollar amount reflects a 12.4% gain since 2016 but a -4.8% decline from 2019 to 2020. Based on the average exchange rate for 2020, the South African rand depreciated

23 February 2021 – The new African Free Continental Trade Area phases out 90% of tariffs on all goods traded between African Union member states over a 5 to 10 year period. This seeks to boost intra-African trade and investment in regional value chains. The current 41% share of SA agricultural exports that goes to

22 February 2021 – World merchandise trade volume growth remained strong in the fourth quarter of 2020 after trade rebounded in the third quarter from a deep Covid-19 induced slump; however, the pace of expansion in the fourth quarter is unlikely to be sustained in the first half of 2021 since key leading indicators appear

19 February 2021 – The agricultural Business Chamber (Agbiz) said yesterday that South Africa’s agricultural exports could increase further in 2021 after reaching record levels last year in spite of lockdown restrictions. South Africa’s agricultural exports increased by 3 percent in 2020, registering the second-largest level on record amounting to $10.2 billion (R). This was

18 February 2021 – South Africa’s food price inflation softened to 5,6% y/y in January 2021, from 6,2% y/y in the previous month. The deceleration was in most product prices in the food basket except for bread and cereals, which accelerated from the levels seen in December 2020. Nevertheless, this was overshadowed by the slowing

South Africa’s Crop Estimates Committee (CEC) cut its outlook for the country’s corn production figure by 0.7% from its final estimate published in November 2020, and set the final production figure at 15.3 million mt in an update published Thursday. The figures were based on an updated view of the CEC figures undertaken by the

16 February 2021 – South Africa is apprehensive about striking a new trade deal with the US and would rather maintain existing relations with the world’s largest economy, the nation’s top trade official said. South Africa is currently party to the so-called Generalised System of Preferences and the African Growth and Opportunity Act, or Agoa,

15 February 2021 – For SA winemakers, the pandemic could have been a disaster but a bitter trade war between China and Australia has thrown the 325-year-old estate a lifeline. Bottles of its reds, whites and roses piled up when SA banned alcohol sales under a strict lockdown and visitors who once flocked to the vineyard