South Africa: Agricultural Economic Fact Sheet
The Agricultural Economic Fact Sheet for South Africa has been updated to include calendar years 2014, 2015 and 2016 (estimate). South Africa is battling one of the worst droughts ever recorded that already started in early 2015, limiting the production of especially summer grains and oilseeds. As a result, farmer’s gross income from field crops is expected to drop by eight percent in 2016 to $3.4 billion, bringing field crops’ contribution to South Africa’s total agricultural sector down from 28 percent in 2014 to 21 percent in 2016. The drought also turned Africa’s largest producer of grains and a major exporter to a net importer of grains. In 2014, South Africa’s net export value of coarse grains was $412 million, while in 2016 South Africa is expected to import $500 million worth of coarse grains to augment local production and to meet demand. In addition, South Africa will have to import about $200 million worth of oilseeds in 2016. Food inflation already reached 11.6 percent while farming debt is expected to increase by 12 percent to $10 billion in 2016.
