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In one hand, South African grain farmers have had a pretty good run the past three years, not least because a prolonged La Nina weather pattern drenched much of the summer crop area with abundant rains.
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Geopolitical risks are back in the South African agricultural agenda.
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This past week, the Business Councils of the BRICS Group gathered virtually to discuss a range of priorities for the year in preparation for the 15th BRICS Summit in August 2023.
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The global wheat market has been in focus since Russia invaded Ukraine in February last year. Many countries feared that they would not meet domestic needs because of supply constraints brought by the war in one of the major producing regions.
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The Crop Estimates Committee's data reaffirmed our optimism about South Africa's 2022/23 summer grains and oilseeds production season.
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In recent notes, we expressed a view of potential moderation in the consumer food inflation in the second half of the year.
