The recent gains of the Rand against the US Dollar led to widespread losses in the South African agricultural commodity markets this week. In addition, positive sentiment regarding this year’s summer crop production also added bearing pressure to the market.
On average, these losses were marginal in all crops. The most notable losses were on the white maize market, with a spot price down by an average 2% compared to the previous week. All other grains and oilseeds were down by an average 1% from the previous week.
For fruits and vegetables, the week has again been fairly volatile with daily stock levels underpinning the market. Lastly, the SAFEX beef market saw a fairly quiet week, with prices unchanged from the previous one.
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