Agbiz/IDC Agribusiness Confidence Index declined by 5 points
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After hovering above 50-points mark over the past five quarters, the Agbiz/IDC Agribusiness Confidence Index declined by 5 points to 49 in the fourth quarter of 2017. This essentially means agribusinesses are downbeat about business conditions in the country.
The fourth quarter survey was completed in the last week of November 2017. Amongst the ten subindices making up the Agbiz/IDC Agribusiness Confidence Index, employment, capital investment, economic conditions and general agricultural conditions sub-indices were behind the overall decline in confidence in the last quarter of the year.
Driving the sentiment in these particular sub-indices were the unfavourable weather conditions in the Western Cape province, uncertainty regarding land reform policy, and weak global demand for maize exports, amongst other factors.
Meanwhile, the turnover, net operating income, volume exports, market share, debtor provision for bad debt and financing costs sub-indices showed improvement in sentiment compared to the third quarter of the year.
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