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South African farms produce largest wheat harvest in many years

26 November 2020 3:14 PM
Tags:
Economy
Farming
Food prices
Food price inflation
Agriculture
Inflation
Wheat
economist
Lester Kiewit
The Midday Report on CapeTalk
summer crops
Kobus Laubscher

SA’s farms are wildly productive right now. Summer crop projections look excellent, says agri-economist Dr Kobus Laubscher.

South Africa’s inflation rate rose to 3.3% in October (from 3% in September), a seven-month high.

The increase was mainly driven by food and non-alcoholic beverages.

Lester Kiewit asked agricultural economist Dr Kobus Laubscher what he expects for food prices in the coming months.

Laubscher does not expect food prices to increase rapidly over the short- to medium term, mainly due to excellent agricultural production.


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© gajus/123rf.com

Farmers are price takers… they can’t pass higher costs on…

Dr Kobus Laubscher, agricultural economist - Agility Agriculture

Wheat… the coming harvest will be the biggest one in many years… Summer crop projections look excellent! … There is no pressure on supplies…

Dr Kobus Laubscher, agricultural economist - Agility Agriculture

Consumers will stretch their rands… a major part of our population will suffer higher inflation than the official rate… in excess of 10%...

Dr Kobus Laubscher, agricultural economist - Agility Agriculture

You can outperform any price increase through clever buying… Maybe after Christmas, you have more money in your pocket than a year ago.

Dr Kobus Laubscher, agricultural economist - Agility Agriculture

Don’t blame the farmers [for high food prices] …

Dr Kobus Laubscher, agricultural economist - Agility Agriculture

For more detail, listen to the interview in the audio below.


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26 November 2020 3:14 PM
Tags:
Economy
Farming
Food prices
Food price inflation
Agriculture
Inflation
Wheat
economist
Lester Kiewit
The Midday Report on CapeTalk
summer crops
Kobus Laubscher

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