Standard Bank_ Agribusiness Biweekly Insights: Field Crops Report (29 September 2023)

Field Crops


The Crop Estimates Committee released the eighth summer crop and second winter crop production estimates for the 2023/24 marketing year (MY). Maize was revised downwards by 0.1% from the previous estimate to 16.39 million tons (up by 6% y/y). Soya bean production remained unchanged at its record 2.755 million tons (up by nearly 24% y/y). Sunflower seed production was revised downwards by about 2% to 729 110 tons (down by 14% y/y). Groundnuts were unchanged at 51 910 tons (up by 6.2% y/y). Sorghum was revised downwards by 3.5% to 94 360 tons (down by 8.5% y/y). Wheat production is estimated at 2.13 million tons, down by 0.5% from the first estimate but up by 1% y/y. Planting for the 2023/24 summer crop production season kicked off three weeks ago in the eastern early-planting regions. According to the South African Weather Service, above-normal rainfall if forecast for most of the country from mid-spring (October) to late spring (November). Then below-normal rainfall is forecast for the central parts of the country, but above-normal rainfall is forecast for the north-eastern regions during early summer (December). Minimum and maximum temperatures are expected to be primarily above-normal countrywide for the forecast period.

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