South Africa's steady growth in poultry production is expected to continue in 2024 as an increasingly vertically integrated industry capitalizes on lower feed prices driven by strong maize and soy production.
South Africa is currently harvesting its second largest corn crop in history and a fourth consecutive bumper crop. This creates a bearish outlook on local corn prices and will limit an expansion in the area to be planted with corn in marketing year (MY) 2023/24.
On May 21, 2023, the South African Minister of Health issued a Government Notice (R.3337) inviting public comments on a draft regulation relating to the labelling and advertising of food products under the Foodstuffs, Cosmetics and Disinfectants Act, 1972 (Act No.54 of 1972).
The South African retail food market is highly concentrated among the five largest companies, including Shoprite Holdings Ltd, Pick n Pay Retailers Pty Ltd, Spar Group Ltd, Massmart (Walmart-owned), and Woolworths Holdings Ltd.
Zimbabwe’s corn crop for marketing year 2023/24 is estimated at 1.5 million metric tons. This represents an increase of five percent from the previous marketing year’s crop, mainly due to a normal rainfall season in the northern parts of the country.
The production of apples, pears and table grapes is estimated to decrease slightly in the 2022/23 Marketing Year (MY), based largely on stagnated production area and a return to normal yields following record production for all three commodities.
Post forecasts Zimbabwe’s sugar cane production will increase by 1 percent to 3.5 million metric tons (MT) in marketing year (MY) 2023/24 based on a return to normal weather conditions, the availability of sufficient irrigation water, and an increase in planted area.