South African Wheat Supply for 2022/23 Season on Par but With Large Price Increase

The total South African wheat supply for the 2022/23 marketing season is projected at 4,277,239MT which is a 0.44% decrease compared to the previous year. This includes a carry over stock of 597,304 tons on 1 October 2022, domestic commercial production and deliveries of 2,138,935MT, wheat imports of 1,530,000MT and a surplus of 11,000MT.

The international price of wheat increased by 31.3% in the 12 months from July 2021 to July 2022, while South Africa's domestic wheat prices increased by 43.7% during the same period. This resulted in urban South African consumers paying 17.8% more for a loaf of brown bread (700g) and 14.6% more for a loaf of white bread (700g).