Given Majola given.majola@inl.co.za THE year 2021 could be characterised as one of the rarest, yet possibly most beneficial one for South African farmers, says Agricultural Business Chamber (Agbiz) chief economist, Wandile Sihlobo. He said that the year combined ample crop harvest with higher prices, thus boosting farmers’ incomes.
“Ordinarily, a year of large harvest tends to lead to lower commodities prices, and farmers’ profits are squeezed. But for 2020 and 2021, commodity prices have remained elevated in South Africa and globally.
“The growing demand for agricultural products, specifically oilseeds in China and India, combined with lower palm oil production in parts of Asia and a poor harvest in South America, were among the key reasons for higher global agricultural commodity prices.
“As an integral part of the global agriculture ecosystem,…