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On October 28, 2022, Tongaat Hullet’s management announced that they opted to go into voluntary business rescue due to the company’s severe levels of financial distress. On Tuesday November 1, Tongaat Hullet missed the deadline to pay R401 million ($22.9 million) for cane delivered by 4,300 growers in September.
On November 9, 2022, The International Trade Administration Commission of South Africa (ITAC) announced the initiation of the sunset review of anti-dumping duties (ADDs) of frozen bone-in portions of poultry from the United States.
South Africa has robust and experienced regulatory system for genetically engineered products, which started with the publication of the “GMO” Act of 1997. Today, South Africa is amongst the top-10 largest producers of GE crops in the world and has approved 27 GE plant events for commercial production contained in three commodities, namely, corn, soybeans, and cotton. South Africa’s corn yields doubled over the past 20 years, while soybean production improved 10-fold.
Post forecasts that South Africa’s corn area will stay flat in marketing year 2022/23. The current high input cost environment and an upsurge in soybean plantings are deterring any bullish outlook in expanding corn area, despite record high commodity prices and three consecutive bumper crops. Higher farming input costs are escalating the risk of production in a weather-dependent industry.
On May 28, 2021, the Department of Agriculture, Land Reform and Rural Development (DALRRD) announced a foot and mouth disease outbreak in the KwaZulu-Natal province.
The South African sugar industry has always publicly lamented the negative impact of the Health Promotion Levy (HPL) that was introduced in 2018 to the already distressed sector.
The production of South African citrus, mainly soft citrus, new orange varieties, lemons and limes is estimated to continue its strong growth in the 2020/21 Marketing Year (MY), based on the increase in area planted, improved yields, high level of...
South Africa’s production and imports of dry beans have been declining over the past decade, but dry beans will continue to be a small but important niche market.