February 2022

28 February 2022 – Following Russia’s invasion of Ukraine early on Thursday, energy costs are soaring, stocks are plunging, Western sanctions are being sharpened, and central bankers, already worried about inflation, face additional problems, from weaker consumer confidence and bigger potential shocks to fragile European economies. This will not be good for energy prices, production, […]

25 February 2022 – The expected increase in the fuel price for March will be especially devastating for winter grain producers, who are currently gearing up to start planting. This was according to Dr Ferdi Meyer, director of the Bureau for Food and Agricultural Policy (BFAP), responding to the Automobile Association’s forecast of significant increases

24 February 2022 – The South African Poultry Association (Sapa) has made some “decisive improvements” to the poultry sector after a difficult year, it said on February 22. The effects of these improvements were aimed at alleviating problems experienced throughout the entire poultry value chain by the industry over the last couple of years, such

23 February 2022 – Supply disruptions have dampened the strength of the rebound in global merchandise trade, but this could be starting to change as supply chain pressures show some signs of easing, the latest WTO Goods Trade Barometer shows. The current reading of 98.7 is below the barometer’s baseline value of 100 and down

22 February 2022 – Cost concerns are casting a pall over the citrus industry – which celebrated a milestone last week when the inaugural shipment of lemons departed for China following the successful completion of a six-year protocol revision period. Citrus Growers’ Association executive Justin Chadwick lauded last week’s shipment, calling the resumption of fruit

21 February 2022 – Global forwarders turned to air cargo in 2021 to overcome delays in sea freight. This has brought challenges and opportunities. According to the International Air Transport Association (Iata) report on global demand in 2021, measured in cargo ton-kilometres (CTKs), it was up 6.9% compared to 2019 (7.4% for international operations). This

18 February 2022 – Although the adoption of recommendations to make health warnings mandatory on all alcoholic drinks in Europe could initially result in additional costs, it is not expected to have a major impact on South African wine producers. This despite the EU being South Africa’s second largest export destination, according to Siobhan Thompson,

17 Feb 2022 – Treasury on International Monetary Fund (IMF) Article IV Staff Report on South Africa following 2021 consultation The International Monetary Fund (IMF) today published the outcome of its Article IV Consultation with South Africa, which was held from 17 November to 7 December 2021. Part of the surveillance function, as prescribed in

16 February 2022 – Consumer price inflation cooled to 5.7% in January, down from 5.9% in December. This was mainly the result of lower fuel prices, says Statistics SA. In the first week of January, petrol prices were lowered by between 68c and 71c a litre. Still, due to large petrol price hikes in 2021,

15 February 2022 – The higher input costs, which have been the dominant feature of South Africa’s agricultural sector over the past year, will likely prevail in the coming months, with negative effects on farmers’ financial conditions. First, for the crop farming sector, prices of fertilizer, herbicides and insecticides were up by more than 50%