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Daily Investor writes that SA’s agriculture sector remains under immense pressure from a difficult operating environment and elevated volatility in key markets. This was revealed by Zeder Investments in its interim results for the six months to the end of August 2024.
Zeder is one of the country’s largest agribusiness investors and holds major stakes in Zaad, which is an investment holding company that operates in specialised agricultural inputs, and Pome Investments, another investment holding company. Overall, Zeder’s headline earnings swung into a loss of R63 million for the six-month period. The environment in which Zeder operates remained relatively constrained during the period under review, mainly due to volatile weather patterns and lower soft commodity prices. Zeder anticipates continuing uncertainty and volatility in its markets n the short and medium term. While the company’s overall performance was poor, what is concerning is its outlook for the agricultural sector in SA. This sector is vital for employment in the country, able to rapidly absorb low-skilled labour and has masked negative underlying trends in the labour market through its strong performance in recent years. However, this appears to be coming to an end as the sector comes under increasing pressure. Its prospects are also clouded by logistical inefficiencies, animal diseases, and climate-related challenges. The sector’s long-term outlook remains precarious despite production growing 13.5% in early 2024. The Agribusinesses Confidence Index remains below the neutral point mark and SA agribusiness, in general, remain downbeat about the business environment. The recent El Niño weather pattern led to drought conditions, which were devastating to the summer grains and oilseed regions. In addition, geopolitical tensions, persistent port inefficiencies, poor rail and road infrastructure, worsening municipal service delivery, and uncertainty about sustained energy availability are factors driving the sentiment.
- Read the full original of the report in the above regard by Shaun Jacobs at Daily Investor
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