March 2022

14 March 2022 – The escalation of the conflict in Ukraine and the invasion of the latter by the Russian military on 24 February has triggered turmoil in the financial markets, and drastically increased uncertainty about the recovery of the global economy two years after the onset of the COVID-19 pandemic. With Russia being the […]

11 March 2022 – South Africa reported its largest current-account surplus on record last year as import demand was suppressed by the economy recovering from the impact of the coronavirus and the value of gold exports rose to the highest since at least 1960. The balance on the current account, the broadest measure of trade

10 March 2022 – Logistics remain a concern for fruit farmers from the north-eastern region of South Africa, the Citrus Growers Association (CGA) has found following a fact-finding mission to Limpopo Province. Despite its relative proximity to the Port of Maputo and the N4 corridor serving that port, exporters from the areas of Letsitele, Hoedspruit,

9 March 2022 – South Africa is the only functional democracy that did not join the United Nations’ condemnation of Russia’s invasion of Ukraine. Bizarrely, its currency is also one of the few beneficiaries of the war. Despite a flight to quality elsewhere, the rand has strengthened against the euro and sterling since the first shots were

8 March 2022 – The fight against unfair competition and illegal imports is starting to reap benefits for the broiler industry. Izaak Breitenbach, general manager of the South African Poultry Association’s Broiler Organisation, said at the recent online Poultry Market Information Day, co-hosted by the National Agricultural Marketing Council and the Department of Agriculture, Land

7 March 2022 – Industry body the Agricultural Business Chamber (Agbiz) has voiced concern about the human loss and disruptions being experienced in the global supply chain, owing to the conflict prevailing in Ukraine. Both Russia and Ukraine are notable players in the global agricultural product and agricultural input markets. In South Africa’s case, its agribusinesses, particularly in

4 March 2022 – The Western Cape’s global exports grew by 22.1% last year, to a value of close-on R167bn in 2021, up from R136.7bn recorded in 2020. The United States was the Western Cape’s largest export market for the first time in 2021, with exports totalling close-on R17bn, an increase of 57.5% on 2020’s

4 March – The Ctrack Africa Transport and Freight Index (CTFI) reached a record high in November 2021 but moderated somewhat in December and increased just marginally in January 2022. The CTFI advanced by just more than one point in January 2022 to an index level of 109 compared to 107,6 in December. This incremental

2 March 2022 – A gauge measuring South African manufacturing sentiment rose to the highest level in almost 15 years in February though its advance could be short-lived, with input costs likely to rise due to high international oil prices and geopolitical tensions. Absa Group Ltd.’s purchasing managers’ index, compiled by the Bureau for Economic

1 March 2022 – AGRI SA has warned that Russia’s ongoing full-scale invasion of Ukraine not only puts pressure on global oil prices, but also threatens to destabilise trade relations and jeopardise food security. Russia and Ukraine are meaningful contributors to the global food chain, accounting for at least 30 percent of the world’s wheat