Food inflation eases further, but recent weather-induced production challenges remain a concern.

Loading player...
GUEST - Paul Makube- FNB Commercial's senior agricultural economist

The latest export estimates from the Citrus Growers' Association of Southern Africa (CGA) showed a further reduction in orange exports for the 2024 season underpinned by a combination of inclement weather in the production areas and the increased competition from the juicing market.
Weather conditions have not been favourable with drier and warmer conditions reducing fruit sizes, followed recently by freezing conditions in some areas. Surging international orange juice prices due to production cuts in the US and Brazil spurred the recent upswing in demand for the juicing market locally. Consequently, orange juice prices have increased by 34% since the start of 2024 at US432/ pound (lbs) after reaching an all-time high of US486/ lbs during May 2024.
On the export side, the CGA expects Navel orange volumes at 21 million (15kg) cartons relative to the opening seasonal estimate of 25.7 million cartons. For Valencias, the new estimate is 51.6 million cartons which is down by 11% from the original estimate for the season with Letsitele, Hoedspruit and the Senwes (Marble Hall and Groblersdal) areas being the biggest contributors to the reduced estimate.
29 Jul 2024 2PM English South Africa Business News · Investing

Other recent episodes

Paymenow data shows SA workers lose 40% of purchasing power.

A new Paymenow analysis shows South African workers have lost more than 40% of their purchasing power over the past decade—even as headline inflation stayed within target. Rene Richter, Reward & Benefits Lead Advisor at Paymenow, joins Kaya Biz to unpack why wages aren’t keeping up, how transport and utilities…
21 May 2PM 10 min

Oceana H1 Results: Lucky Star Shines as Fishmeal Stumbles

Oceana Group has delivered a resilient set of interim results despite a 6% drop in revenue. Lucky Star and Wild Caught Seafood carried the half‑year, while Fishmeal & Fish Oil struggled under weak catch volumes and global pricing pressure. CFO Zaf Mahomed joins Kaya Biz to break down margins, cash…
21 May 2PM 18 min

Inside Investec’s Strong 2026 SA Performance

Investec SA has delivered a robust full‑year performance in a tough macro environment. CEO Cumesh Moodliar joins Kaya Biz to unpack the 5.2% rise in SA operating profit, strong momentum in specialist banking, wealth inflows, digital transformation, and what the bank expects from the South African economy heading into 2027.
21 May 2PM 13 min

Stats SA Explains April’s Sharp Inflation Rise to 4%

South Africa’s inflation rate surged to 4.0% in April, driven by fuel, transport, and housing pressures. Stats SA’s Patrick Kelly unpacks the numbers, the 1.1% month‑on‑month spike, and what’s behind the dramatic swing in transport inflation. We explore regional differences, goods vs. services inflation, and what this means for households…
20 May 4PM 11 min

4% Inflation and the SARB’s Next Move

With inflation back at 4% and oil‑driven risks rising, the SARB faces a critical decision next week. Economist Sifiso Skenjana unpacks the April CPI print, the credibility of the new 3% target, and whether a rate hike is now on the table. We discuss real interest rates, global financial conditions,…
20 May 4PM 15 min