The Crop Estimates Committee lifted its production estimates for wheat, barley and canola 1%, 5%, 8%, respectively from October 2020 to 2.15 million tonnes, 552 766 tonnes, and 148 456 tonnes. These will be the largest harvest on record for barley and canola, while for wheat it will be the largest harvest in 19 years.
The combination of a large harvest, joint efforts between the government and the private sector to keep agriculture operational since the outset of the Covid-19 pandemic and the lockdown, and long-term export market development efforts continue to pay off for SA’s agricultural sector. In the third quarter, the country recorded record exports of $3.2bn, a 5% increase year on year. The growth was primarily underpinned by citrus, wine, maize, nuts, deciduous fruit and sugar cane.
South Africa’s food price inflation accelerated to 5.6% y/y in October 2020 from 4.2% in the previous month, and well above the average of 4.4% for the first nine months of the year.