Tag: FNB Agri-Business
No respite for coffee lovers as higher global prices stoke local...
South Africa’s consumer continued to breathe a sigh of relief as headline inflation steadied to 5.2% y/y in May 2024 according to Statistics South Africa. Food inflation however decelerated further to 4.3% y/y in May 2024 from 4.4% in April 2024 underpinned by declines in bread and cereals, milk, eggs and cheese, oils and fats, and sugar, sweets, and desserts prices. Drilling deeper into the data shows a continued stickiness on the upside for coffee products.
Agricultural sector should be proactive in mitigating and adapting to climate...
Global and domestic food security remains under extreme threat. Climate change has always been the main driver for the threat, however, the recent invasion of Ukraine by Russia has drastically increased concerns about the impact of war on soaring food prices and input costs.
Massive fuel drop helps offset cost pressures for agriculture
The South African agriculture sector as well as consumer can breathe a sigh of relief following the announcement of a massive fuel price decrease of R1.76/ litre of both the retail price of the 93 ULP and LRP petrol, with the 95 ULP and LRP petrol falling by R1.88/ litre for Gauteng.
SARB rate cut – a boost for agriculture
In the midst of a recessionary domestic economy, favourable inflation outlook and lower oil prices, the South African Reserve Bank (SARB) got room to cut interest rates by 100 basis points to 5.25%. A rate cut, downside inflation outlook and supportive rand boost agriculture rebound.
