{"id":21078,"date":"2021-11-23T17:42:55","date_gmt":"2021-11-23T17:42:55","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=21078"},"modified":"2021-11-23T17:39:07","modified_gmt":"2021-11-23T17:39:07","slug":"agriculture-sector-in-the-country-faces-rising-costs-2","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/agriculture-sector-in-the-country-faces-rising-costs-2","title":{"rendered":"Agriculture sector in the country faces rising costs"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>FNB Agribusiness\u2019s senior agricultural economist, Paul Makube, said the South African Reserve Bank\u2019s raising of its repo rate by 0.25 percent to 3.75 percent, effective from the end of last week, would lead to higher debt servicing costs.<\/p>\n

These, amid mounting cost pressures emanating from a massive upswing in fuel, fertiliser, pesticide and herbicide prices, would trim profit margins in the sector despite a fantastic outlook for the season ahead, he said.<\/p>\n

\u201cThe record low interest environment over the past year provided a breather for farmers and allowed them to do the necessary replacement and replenishment of machinery and equipment.<\/p>\n

\u201cSo far, tractor and combine harvester sales for the year to October 2021 were already 6 percent and 33 percent ahead of the 2020 levels, which showed strong optimism for the agriculture outlook,\u201d Makube said.<\/p>\n

Meanwhile, according to the Citrus Growers Association research economist, Portia Magwaza, in the 2021 Lemon Seasonal Review on Friday, this has been a very tough lemon season given the range of logistics and market challenges that growers and exporters have had to contend with.<\/p>\n

She said while export volumes were up, their costs had increased significantly, the exchange rate had moved against exporters and lemon prices were well below 2020 values.<\/p>\n

given.majola@inl.co.za<\/p>\n

BUSINESS REPORT ONLINE<\/b><\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. FNB Agribusiness\u2019s senior agricultural economist, Paul Makube, said the South African Reserve Bank\u2019s raising of its repo rate by 0.25 percent to 3.75 percent, effective from the end of last week, would lead to higher debt servicing costs. These, amid mounting cost pressures emanating from a massive upswing in fuel, fertiliser, pesticide […]<\/p>\n","protected":false},"author":84,"featured_media":21077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-21078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nAgriculture sector in the country faces rising costs - South Africa<\/title>\n<meta name=\"description\" content=\"FNB Agribusiness\u2019s senior agricultural economist, Paul Makube, said the South African Reserve Bank\u2019s raising of its repo ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/agriculture-sector-in-the-country-faces-rising-costs-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Agriculture sector in the country faces rising costs\" \/>\n<meta property=\"og:description\" content=\"FNB Agribusiness\u2019s senior agricultural economist, Paul Makube, said the South African Reserve Bank\u2019s raising of its repo ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/agriculture-sector-in-the-country-faces-rising-costs-2\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-23T17:42:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/11\/img-619d272644ecb.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/agriculture-sector-in-the-country-faces-rising-costs-2#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/agriculture-sector-in-the-country-faces-rising-costs-2\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Agriculture sector in the country faces rising costs\",\"datePublished\":\"2021-11-23T17:42:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/agriculture-sector-in-the-country-faces-rising-costs-2\"},\"wordCount\":228,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/agriculture-sector-in-the-country-faces-rising-costs-2#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/11\/img-619d272644ecb.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/agriculture-sector-in-the-country-faces-rising-costs-2#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/agriculture-sector-in-the-country-faces-rising-costs-2\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/agriculture-sector-in-the-country-faces-rising-costs-2\",\"name\":\"Agriculture sector in the country faces rising costs - 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