Agbiz confidence index edges up
19 Mar 2019 - by Chanté Ho Hip
A four-point improvement in the Agribusiness Confidence Index for the first quarter of 2019 to 46 points has come as a “welcome development” says Agbiz, but with the index below the neutral 50-point mark, it’s clear that agribusinesses are still downbeat about business conditions in South Africa.
The horticultural, livestock, agrochemical and wine subsectors recorded an improvement of 13 points to 61 in the first quarter.
Capital investments confidence increased by a further four points to 62, driven by firm agricultural machinery sales, while export volumes improved significantly by 19 points to 56.
This was largely due to the Citrus Growers’ Association’s export projection of 137 million boxes of citrus fruit and the SA Wine Industry Information and Systems projection of a relatively larger harvest of wine grapes for 2019.
Employment confidence in the agricultural sector decreased by one point from the last quarter of 2018 to 54.