South Africa: MEC Ivan Meyer on the growth of Western Cape agriculture

Published 2021년 6월 10일

Tridge summary

South Africa's economy experienced a quarterly growth rate of 4.6% in the first quarter of 2021, as per StatsSA's report. Despite a 3.2% decline in the agricultural sector in the same quarter, there was a year-on-year quarterly growth of 7.5% in agricultural economic output. The Western Cape Department of Agriculture saw increased nominal agricultural gross income in products like rooibos tea, deciduous and other fruits, vegetables, flowers, and bulb. Additionally, export volumes of products such as prunes, sloes, peaches, nectarines, and berries also saw positive growth, despite policy uncertainties caused by expropriation without compensation.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

South Africa's economy increased by an annualised and adjusted quarterly growth rate of 4.6% in the first quarter of 2021, according to StatsSA's latest report. This same report further indicated that the agricultural sector's performance declined by 3.2% in the first quarter of 2021. However, the year-on-year quarterly growth rate approach, which compares the first quarter of 2021 to the same quarter in 2020, shows that agricultural economic output increased by 7.5%. Western Cape MEC of Agriculture, Dr Ivan Meyer, said the latter was good news. Said MEC Meyer: "When viewed on an annualised basis, the latest GDP data supports our view that Agriculture Sector will continue to contribute to the economic recovery of the Western Cape." Western Cape Department of Agriculture economist, Tshepo Morokong, highlights that an analysis of the data of some of the horticultural products important to the Western Cape shows a year-on-year quarterly increase in the first quarter of 2021. Said ...

Source: All Africa