AGRICULTURE: SA Remains a Net Food Exporter
Recent Gauteng Business News
Agricultural exports grew by 10% between 2008 and 2010, with total agricultural exports amounting to $6.8bn in 2010. During the same period, agricultural imports increased by just less than 1% and amounted to $5.2bn. Agricultural exports stood at 5% of South Africas total exports in 2010, with agricultural imports counting for 2% of total imports.
Netherlands, SAs Top Agricultural Export Destination
The Institutes analysis was based on data supplied by the Foreign Agricultural Service at the United States Department of Agriculture. The data revealed that the Netherlands was South Africas largest agricultural export destination, accounting for a little over 10% of South Africas total such exports in 2010, worth $700m.
Between 2008 and 2010, the demand for South African agricultural exports grew in Asia and Africa while the proportion of such exports going to European countries declined. Argentina has remained South Africas largest source of agricultural imports since 2008. However, the proportion of such imports from Argentina has fallen from 17% in 2008 to 12% in 2010, when they were worth $628m.
Agricultural Exports Outweigh Imports
The ratio of agricultural imports to exports has increased since the mid 1960s, when the ratio of imports to exports stood at 1 to 5. In the decade between 1995 and 2005 the ratio of agricultural imports to exports stood at 2 to 3. In 2007, agricultural imports temporarily exceeded agricultural exports by a ratio of 11 to 10.
Recent data indicates that demand for South African agricultural products is not only holding steady, but is in fact growing said Mr Jonathan Snyman, a researcher at the Institute. Food security is an especially precarious state of affairs in sub-Saharan Africa, so it is a positive development that South Africa has maintained its status as a net agricultural exporter added Mr Snyman.
Business News Sector Tags: Agriculture|