Agriculture trade surplus drops in Q2

JOHANNESBURG - Despite maintaining a trade surplus in the second quarter of 2024, South Africa's agriculture sector has faced slower-than-expected growth.

According to the latest Trade Map data, agriculture exports edged down by 0.1 percent year-on-year, leading to a 6 percent year-on-year decline in the trade surplus.

This marks a notable reversal from first quarter’s robust 6 percent gain, and an even bigger 20 percent surge in the previous period.

Senior Agricultural Economist at FNB Commercial Paul Makube has more on this.