ALL AGRI #Africa Commodities News

While this recovery in yield is welcome news, the industry’s economic outlook remains under serious threat due to delays in adjusting South Africa’s import tariff, the flood of cheap imports into the country and the looming 30% tariff from the United States on South African sugar exports. The delay in adjusting our own sugar import tariff to reflect current global realities is undermining the competitiveness of local producers.

The National Sugar Development Council is urging the All Farmers Association of Nigeria and investors to seize opportunities in Nigeria’s sugar sector, with Executive Secretary Kamar Bakrin highlighting a market valued at over $2 billion.‎Addressing the farmers who paid him a courtesy call in his office, Bakrin called on stakeholders to join the national effort to reduce the country’s overdependence on imported raw sugar and its by-products.

South Africa’s summer grains and oilseed production for 2024-25 is projected at 18.74 million tonnes, marking a 21% increase from the previous year and a 2% rise since June, according to the Agricultural Business Chamber of South Africa (Agbiz).Maize output is forecast at 15.03 million tonnes, 17% higher than last season and exceeding national requirements of around 12 million tonnes, keeping the country on track as a net maize exporter. Soybean production is expected to reach 2.72 million tonnes, a 47% increase year-on-year.

Kolkata, Aug 28 (PTI) West Bengal-based rice manufacturer Bardhaman Agro Products on Thursday said it is exploring opportunities to set up rice mills in Africa, while also committing investments of around Rs 200-250 crore over the next five years to double its domestic capacity.

Africa Oil Corp’s recent earnings call presented a balanced perspective on the company’s performance. While the company is demonstrating strong financial discipline with substantial dividend distributions and successful debt reduction, challenges persist with slightly softer production volumes and revised financial guidance due to lower oil prices.