AGRICULTURE NEWS - Despite an increase in South Africa’s GDP of 1,1%, translating into an annualised growth rate of 4,6%, in the first quarter of this year, the agriculture sector saw a downturn in GDP contribution to -3,2% (seasonally adjusted and annualised), according to Statistics South Africa.
Speaking to Farmer’s Weekly, Dr Marlene Louw, senior economist at Absa AgriBusiness, said the contraction in the first quarter (Q1) GDP figures for agriculture could mainly be attributed to lower slaughter numbers for cattle, pigs and sheep in the livestock sector, due to farmers being in a herd rebuilding phase.
Louw said, however, that she was not too concerned by this slight downturn, and expected growth in the agriculture sector to reach 7% for the year.
Read the full article here on the Caxton publication, Farmer's Weekly
