Wheat holding the gains.

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Wheat holding the gains.

South African Agricultural Commodities Weekly Wrap

While all domestic grains and oilseeds commodities ended the week in negative territory, wheat held the gains throughout with support coming from strong buying interest and unfavourable weather conditions.

After triggering to R379.39 per tonne on 11 July 2017, the wheat import tariff has again triggered to R752.35 per tonne. Both of these rates have not yet been published in the government gazette. Therefore, the wheat import tariff is still R947.49 per tonne. This essentially means that the wheat import tariff will first decline to R379.39 per ton, then be revised up to R752.35 per tonne. The timeframe for this process is unclear.

Outside of grains and oilseeds market, the fruits and vegetables were fairly volatile this week with daily stock levels underpinning the market. The SAFEX beef carcass market ended the week on a quiet note with prices unchanged from last week.

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