Highlights in today’s morning note
The South African potatoes market saw additional gains in yesterday’s trade session with the price up by 5% from the previous day, closing at R29.82 per 10kg bag. These gains were on the back of lower stocks of 826 523 bags (10kg bags) at the start of the session.
South African maize exports fell by 43% in the week ending 28 July 2017 from the previous one and eased at 87 577 tonnes. This was mainly due to a decline in activity in the Kenyan market. About 60% of these exports were yellow maize, with 40% being white maize.
The southern parts of the Western Cape province could receive light showers this week, whereas other parts of the province could remain dry and cool. However, the week ending 17 August 2017 could bring rainfall of between 16 and 30 millimetres across the province which will possibly improve crop conditions and soil moisture.
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The harvest process is complete with exceptional yields which support the National Crop Estimate Committee’s view of a record crop of 1.34 million tonnes – an 81% annual increase.
The prices of apples and bananas retracted from the previous day’s highs due to large stocks, closing at R6.92 per kilogramme and R5.79 per kilogramme, respectively. The apples stocks were up by 27% from the previous day easing at 274 368 tonnes. At the same time, the bananas daily stocks increased by 79% to 280 678 tonnes.