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Agri-Weekly

19 August 2016

Yellow maize market (Graph 1)

International: US maize prices rebounded over the week,

gaining support from the strong soybean market.

Crop ratings remained unchanged with weather forecast pointing to more precipitation along the US maize belt, which is beneficial for the developing crop.

Overall, the US crop was rated 74% in the good to excellent conditions, unchanged w/w but 5-percentage points above last year. The crop is reportedly progressing well and ahead of seasonal averages with 73% of the crop at or beyond the dough stage, 8-percentage points ahead of last year.

Meanwhile, US ethanol production reached a weekly record despite the weaker crude oil market. According to the US Energy and Information Administration (EIA), weekly ethanol output for the week ended 12th of August has reached 1.029m barrels a day, a record for the July.

On exports, US weekly sales were neutral to bearish to the market reported at 1.2m tons.

Globally, the figure for the 2016/17 production season was a shocker for the maize market at a record 1.03 billion tons with ending stocks reaching 220.8m tons. This is expected to maintain downward pressure on prices in the medium to longer term.

2016/17 Proj. Beginning Stocks Production Imports

Domestic Feed Domestic Exports

Ending Stocks

Million tons

World 209.34 1028.4 128.03 623.58 1016.93 137.25 220.81

United States 43.33 384.92 1.27 144.15 313.07 55.25 61.2 Source: USDA, WASDE

Graph 1: Yellow maize prices

750

1,070

1,390

1,710

2,030

2,350

2,670

2,990

3,310

3,630

3,950

4,270

21-Aug-15 25-Dec-15 29-Apr-16 02-Sep-16

(R/ton)

Import parity Export parity Domestic

* last two data points are preliminary

____________________________________________________________________________________________________________________________________________

FNB Agri-Weekly

Source: USDA, PSD

Domestic: Weekly yellow maize prices ended the week slightly firmer on spill over gains from the

higher Chicago market. The Rand was also slightly weaker but the seasonal harvest pressure limited overall gains in maize prices.

The average weekly YMAZ prices was up 7% w/w and 16% higher y/y at R3,107/t. Prices have so far dropped by R393/t from the 2016 peak of R4,021/t. In the futures market, the May-17 Jul-17 prices moved sideways over the week and traded at R2,713/tons and R2,658/ton respectively.

The pace of producer deliveries was upped a bit as harvest is almost complete. Weekly deliveries came in at 210,058 tons of which 69% was white and 31% yellow maize. Cumulative year to date deliveries reached 5.6m tons, which is 78% of the estimated crop.

Imports of yellow maize came in at 47,634 tons, all from Argentina. The cumulative year to date imports reached 362,503 tons.

Exports volumes were significantly higher at 4,466 tons for yellow maize, which bring the total for the season to 80,169 tons.

Source: JSE, Own Calculations

SAFEX (Rand/ ton) CME (US$/t)

19 August 2016 WMAZ % w/w YMAZ % w/w CBOT Corn % w/w US CORN % w/w

Weekly Avg R 4185 5.3% R 3,107 2.6% R 1,738 1.4% 151.77 0.7%

Sep-2016 R 4,319 7.6% R 3,178 3.6% R 1,747 3.0% 131.67 3.7%

Dec-2016 R 4,360 8.3% R 3,237 3.8% R 1,824 1.8% 135.38 3.2%

Mar-2017 R 4,019 8.7% R 3,136 3.2% R 1,916 1.6% 139.24 2.9%

May-2017 R 2,962 3.1% R 2,713 0.3% R 1,960 1.4% 141.92 2.9%

Jul-2017 R 2,767 1.3% R 2,658 0.5% R 2,038 2.3% 144.44 2.7% Source: JSE, CME

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

Graph 1a: World maize production trends (‘000 tons)

0%

5%

10%

15%

20%

25%

30%

35%

0

50,000

100,000

150,000

200,000

250,000

Graph 1b: World maize- Ending Stocks vs Stocks/Usage ratio

Ending Stocks Stocks/Usage ratio

-400-340-280-220-160-100

-402080

140200260320

Graph 1c: Weekly YMAZ price change (R/ton) Last 5 months

2500

2600

2700

2800

2900

3000

3100

3200

3300

Graph 1d: JSE YMAZ Futures, Jul-17 (R/t)

____________________________________________________________________________________________________________________________________________

FNB Agri-Weekly

OUTLOOK Prices are expected to remain range bound at current levels until the planting begins in earnest. Weather and the currency will influence price direction in the medium term.

Source: SAGIS;

19 August 2016 Calculated Yellow Maize Options prices (R/ton) RMB commodity desk (Tel: 011 269 9005)

Dec-16 Mar-17 May-17

Ask Put Call Ask Put Call Ask Put Call

3,280 328 285 3,180 347 303 2,760 327 280

3,240 306 303 3,140 324 320 2,720 304 297

3,200 285 322 3,100 303 339 2,680 282 315

White maize market trends (Graph 2)

International: US prices rallied on the week due to the

strong soybean market and the slightly weaker US dollar late in the week which improved export competitiveness.

The weekly average white maize prices closed at US$143 per ton, up 5% w/w but down 3% y/y.

Domestic: White maize prices were firmer on strong

export data and spill over gains from the international market.

White maize prices averaged R4,185 per ton for the week, up 5% w/w and 40% higher y/y. Prices have so far shed R789/t from the 2016 peak of R5,162/t.

0

10,000

20,000

30,000

40,000

MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR

Graph 1e: Monthly Yellow Maize Export Trends Marketing Seasons, (tons)

2015/16 2016/17

0

20,000

40,000

60,000

80,000


Graph 1f: Total SA Maize Export Trends Marketing Seasons, (tons)

2015/16 2016/17

0

100,000

200,000

300,000

400,000

500,000


Graph 1g: Monthly Yellow Maize Import Trends (tons) Marketing Season

2015/16 2016/17

0

100,000

200,000

300,000

400,000

500,000


Graph 1h: Total Monthly SA Maize Imports (tons) Marketing Season

YM 2016/17 WM 2016/17 YM 2015/16 WM 2015/16

Graph 2: White maize prices

680

1,160

1,640

2,120

2,600

3,080

3,560

4,040

4,520

5,000

5,480

21-Aug-15 25-Dec-15 29-Apr-16 02-Sep-16

Import parit y Export parit y D omest ic

(R/ton)

* last two data points are

preliminary

____________________________________________________________________________________________________________________________________________

FNB Agri-Weekly

Weekly maize imports came in at 31,962 tons, bringing the cumulative year to date imports to 185,320 tons.

Exports of white maize were 13,203 tons for the week with the total year to date figure reaching 155,678 tons. OUTLOOK Prices are expected to remain range bound at current levels until the planting begins in earnest. Weather and the currency will influence price direction in the medium term.

19 August 2016 Calculated White Maize Options prices (R/ton) RMB commodity desk (Tel: 011 269 9005)


4,400 568 528 4,060 563 522 3,000 433 395

4,360 546 546 4,020 540 539 2,960 410 412

4,320 523 563 3,980 518 557 2,920 387 429

Source: SAGIS;

2500

2700

2900

3100

3300

3500

3700

3900

Graph 2a: JSE WMAZ Futures, Jul-17 (R/t)

-300

-240-180

-120-60

060

120180

240300

360420

Graph 2b: Weekly price change (R/ton) - JSE WMAZ

0

10,000

20,000

30,000

40,000

50,000

60,000


Graph 2c: Monthly White Maize Export Trends (tons) Marketing Seasons

2016/17 2015/16

0

20,000

40,000

60,000

80,000


Graph 2d: Total SA Maize Export Trends Marketing Seasons, (tons)

2015/16 2016/17

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000


Graph 2e: Monthly White Maize Import Trends (tons) Marketing Season

2015/16 2016/17 Cumulative

0

100,000

200,000

300,000

400,000

500,000


Graph 2f: Total Monthly SA Maize Imports (tons) Marketing Season

YM 2016/17 WM 2016/17 YM 2015/16 WM 2015/16

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FNB Agri-Weekly

Wheat market trends (Graph 3)

International: US wheat prices trended mostly firmer on

the back of support from strong export sales and the weaker US dollar.

Nonetheless, globally supplies remain abundant limiting further gains.

The USDA weekly export sales came in at 489,500 tons for the marketing year 2016/17. Sales came in within market expectations of 400,000 to 600,000 tons. The USDA expects overall exports to reach 25.9m tons.

Along the US plains, winter wheat harvest is nearing completion with 97% of the crop harvested. There are chances of rains in the

short to medium-term which could affect crop quality. US spring wheat harvest is also progressing well.

In the EU, FranceAgriMer estimated French harvest at 97% complete compared to 75% the week prior. In Germany, According to the German Farmers’ Association (DBV), German wheat production will decline to 22.9m tons, down 13% y/y due to the extended rainfall during the harvest period.

In the Black Sea region, Ukraine’s Agriculture Ministry pegged the 2016/17 crop at 25.5m tons slightly down on the 25.5m tons harvested in 2015/16.

Source: USDA, PSD

Domestic: Wheat prices rebounded modestly on the back of the strong gains in the maize market

and further strength on the international market. Crop conditions remain relatively favourable across the producing areas particularly the

Western Cape and some parts of the Free State. Wheat prices averaged R4,163 per ton, up 2% w/w and 3% higher y/y. Deliveries report showed wheat delivered to commercial silos reached 1,898 tons. Imports came in at 27,357 tons for the week ended 19 August 2016, sourced from the

Germany. The season to date imports have now reached 1.81m tons with the major suppliers being Russia (39%), Germany (15%), the US (10%) and Poland (10%).

Despite being a net importer of wheat, South Africa exported 1,827 tons to the Namibia and Lesotho during the week.

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

Graph 3a: World wheat production trends (‘000 tons)

0%

5%

10%

15%

20%

25%

30%

35%

40%

0

50,000

100,000

150,000

200,000

250,000

300,000

Graph 3b: World wheat: Ending Stocks vs Stocks/Usage ratio


Graph 3: Wheat price trends

500

940

1,380

1,820

2,260

2,700

3,140

3,580

4,020

4,460

4,900

5,340

21-Aug-15 25-Dec-15 29-Apr-16 02-Sep-16

Import parit y Exp ort parit y D omest ic

(R/ton)


____________________________________________________________________________________________________________________________________________

FNB Agri-Weekly

R 4,545

R 5,120

R 4,705

R 4,070

3860

4060

4260

4460

4660

4860

5060

5260

5460

Graph 3d: JSE WHEAT Futures - (R/t)

Sep-16

OUTLOOK The renewed rand volatility will underpin price direction in the short term. Better production conditions and better yields will continue to limit further upside for prices.

19 August 2016

JSE WHEAT

(R/t) % w/w US HRW (US$/t) % w/w

US SRW (US$/t) % w/w

Weekly average R 4,163 1.9% 153.84 1.8% 165.74 2.1%

Sep-2016 R 4,300 5.0% 153.81 0.6% 156.89 1.1%

Dec-2016 R 4,273 4.8% 163.36 0.5% 163.36 1.0%

Mar-2017 R 4,311 3.0% 169.17 0.5% 170.49 0.4%

May-2017 172.77 0.4% 175.34 0.5%

Jul-2017 176.22 0.3% 178.35 0.7% Source: JSE, USDA, CME

19 August 2016 Calculated Wheat Option prices (R/ton) RMB commodity desk (Tel: 011 269 9005)

Sep-16 Dec-16 Mar-17


4,320 342 295 4,360 365 316 - - -

4,280 320 313 4,320 343 334 - - -

4,240 299 332 4,280 321 352 - - -

-300

-240

-180

-120

-60

0

60

120

180

240

Graph 3c: Weekly price change (R/ton) - JSE WHEAT

____________________________________________________________________________________________________________________________________________

FNB Agri-Weekly

Source: SAGIS;

Source: SAGIS;

Oilseed market trends (Graph 4) International: US soybean prices were firmer on the

week gaining support from strong export data. In the product category, soymeal and soyoil also trended higher.

Export sales were reported at 1.77m tons while shipments were reported 865,000 tons.

Demand remains firm in China with the USDA announcing that private exporters reported sales of 381,000 tons to China.

Though crop ratings remained unchanged, they were 9-percentage points above the 5-year average at 72% in the good to excellent condition category. Weather conditions remained favourable, aiding crop development. About 92% of the US crop was reported at or beyond the blooming stage, 3-percentage points ahead of last year. These figures bolster expectations of above average yields and a bumper harvest.

Global production is estimated at 330.41m tons, up 4.5m tons from the previous estimate.

-

80,000

160,000

240,000

320,000

400,000

480,000

OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP

Graph 3e: Wheat Import Trends (tons) Marketing Season

2013/14 2014/15 2015/16

0

10000

20000

30000

40000

0

80000

160000

240000

320000

400000

480000

OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP

Graph 3f: Wheat Import & Export Trends (tons) Marketing Season

IMP-2014/15 IMP-2015/16, RHSEXP-2014/15 EXP-2015/16, RHS

38,445

49,516

102,816

109,267

151,014

185,036

188,900

276,193

710,890

0 200,000 400,000 600,000 800,000

AUSTRALIA

ARGENTINA

CANADA

UKRAINE

LITHUANIA

POLAND

UNITED STATES

GERMANY

RUSSIAN FEDERATION

Graph 4g: SA Wheat imports by country

269

912

2,490

4,831

5,196

10,249

25,865

0 5,000 10,000 15,000 20,000 25,000 30,000

ZAMBIA

SWAZILAND

MOZAMBIQUE

LESOTHO

BOTSWANA

NAMIBIA

ZIMBABWE

Graph 3h: SA Wheat exports by destination

Graph 4: Derived Oilseed prices

3,480

3,920

4,360

4,800

5,240

5,680

6,120

6,560

7,000

7,440

7,880

21-Aug-15 25-Dec-15 29-Apr-16 02-Sep-16

Derived Soya Derived Sunflower

Sunflower-spot Soya-spot

(R/ton)


____________________________________________________________________________________________________________________________________________

FNB Agri-Weekly

Source: USDA, WASDE, PSD

Domestic:

Prices in the oilseed complex were firmer on spill over gains from the international market and the slightly weaker Rand.

Sunflower posted strong gains on good buying interest and increased by almost 4% over the week to average R5,876/ton.

Soybean prices moved sideways to firmer at R6,372 which is still 25% higher y/y. OUTLOOK

Globally, prices are expected move sideways with limited upside potential on good demand in Asian markets while harvest pressure from South America continues to provide downside pressure.

Source: JSE

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

Graph 4a: World soybean production trends (‘000 tons)

0%

5%

10%

15%

20%

25%

30%

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

Graph 4b: World soybean: Ending Stocks vs Stocks/Usage ratio


-800

-640

-480

-320

-160

0

160

320

480

640

800

Graph 4c: Weekly JSE SOY price change (R/ton)

-1,150

-920

-690

-460

-230

0

230

460

Graph 4e: Weekly JSE SUNS price change (R/ton)

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FNB Agri-Weekly

19 August 2016

JSE SUNS (R/t) % w/w

JSE SOYA (R/t) % w/w

US SOYA (US$/t) % w/w

Weekly avg R 5,876 3.6% R 6,372 0.7% 410.00 2.2%

Sep-2016 R 5,930 25.0% R 6,371 22.0% 377.36 2.4%

Dec-2016 R 6,060 25.0% R 6,414 21.0% - -

Mar-2017 R 5,891 0.0% R 6,209 24.0% 367.51 1.8%

May-2017 R 5,761 0.0% R 5,925 20.0% 366.56 2.2%

Jul-2017 R 5,817 23.0% R 6,371 22.0% 366.41 2.3% Source: JSE, CME

Oilseeds Futures 19 August 2016

Dec-16 Mar-17 May-17 Jul-17 Sep-17

CBOT Soya oil (US c/lb) 32.45 32.86 33.01 33.19 33.26

CBOT Soya cake meal (US$/t) 361.34 351.86 349.65 350.31 346.24

Calculated Sunflower Option prices (R/ton) RMB commodity desk (Tel: 011 269 9005)



6,100 700 660 6,040 806 657 5,800 762 723

6,060 678 678 6,000 782 673 5,760 740 741

6,020 656 696 5,960 759 690 5,720 717 758

Sugar market trends (Graph 5) International: Developments in Brazil were more

influential on the market over the week. Good harvest weather aided harvest

pace and exerted pressure on the market with prices moving sideways to weaker.

However, the Brazilian real rallied further, lifting the sugar market as it limited export volumes.

Additionally, the Brazilian government announced that output may be 2% less than market expectations (35m tons). This coupled with overall global deficit helped lift prices.

World raw sugar prices were virtually unchanged for the week averaging US19.94 cents/lb, up by 88% y/y.

ICE sugar futures were firmer across the board with the Mar-17 contract up 0.4% w/w at US20.28 cents/lb. Sugar for May-17 delivery gained 0.6% w/w at US19.82 cents/lb.

Source: InterContinental Exchange (ICE)

ICE Sugar Futures 19 August 2016

Mar-17 May-17 Jul-17 Oct-17 Mar-17

Sugar No.11 (US c/lb) 20.28 19.82 19.29 19 18.83

% Change w/w 0.4% 0.6% 0.7% 0.8% 1.0%

Graph 5: World Raw Sugar Price

No.11 (Usc/lb)

7

9

10

12

13

15

16

18

19

21

22

2 2 - Aug- 15 2 1- De c - 15 2 0 - Apr- 16 19 - Aug- 16

(USc/lb)

____________________________________________________________________________________________________________________________________________

FNB Agri-Weekly

Source: USDA, PSD

Domestic: Sugar prices moved higher on the domestic market. According to the Cane Growers

Association, the August Recoverable Value (RV) price for cane delivered in July came in at a

new high of R5,041.76 per ton, up by R603.05 m/m. This is largely due to the 15% hike in

the local market national sugar price which was implemented effective from July 13, 2016.

The downside pressure came from the 27,993 tons improvement in sugar output, the firmer

R/US$ and the 0.29% decline in sugar:RV ratio.

Vegetable Market Trends (Graphs 6a to 6e): South Africa’s 5 Major Fresh Produce Markets (Average Pretoria, Bloemfontein, Johannesburg, Cape Town and Durban)

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

Graph 5a: World Sugar ending stocks trends (‘000 tons)

70%

72%

74%

76%

78%

80%

82%

0

20000

40000

60000

80000

100000

120000

140000

160000

180000

200000

Graph 5b: World Sugar production and % Cane

Total Sugar Production ('000t) % Cane

Tomatoes (5 major markets) Tomato prices rebounded and finished higher on tight volumes across the markets. The average weekly tomato prices settled at R3,351 per ton, up 22% w/w but still down 37% compared to last year. Volumes traded reached 4,815 tons, down 14% w/w but 10% higher y/y. It is expected that prices will move sideways to slightly weaker on softer demand.

0

940

1,880

2,820

3,760

4,700

5,640

6,580

7,520

8,460

9,400

10,340

11,280

21-Aug-15 25-Dec-15 29-Apr-16 02-Sep-16

0

1000

2000

3000

4000

5000

6000

Volumes (ton) (RHS) R/ton (LHS) * last two data points are preliminary

Graph 6a: F resh P ro duce M arkets

-T o mato prices

____________________________________________________________________________________________________________________________________________

FNB Agri-Weekly

Carrots (5 major markets) The carrot market resumed the weaker trend on volume pressure. Weekly carrot prices were down 17% w/w, averaging R2,507 per ton, but still up 12% y/y. Volumes of carrots traded reached 1,920 tons, up 10% w/w but down 8% y/y. Prices are expected to rebound slightly on increased uptake ahead of month end.

0760

15202280

304038004560

532060806840

76008360

21-Aug-15 25-Dec-15 29-Apr-16 02-Sep-16

0

250

500

750

1,000

1,250

1,500

1,750

2,000

2,250

2,500

Volumes (ton) (RHS) R/ton (LHS)


Graph 6d: Fresh Produce Markets -

Carrot prices

Onions (5 major markets)

Onion prices reversed last week’s gains and traded on moderately on the bearish side due to increased volumes on the market. The weekly average onion prices lost 4% over the week, but were more than double the price attained last year this time at R5,613 per ton. Volumes of onions traded were up 7% on the week but down 16% y/y at 5,492 tons. It is however expected that onion prices may rebound on strong market uptake.

Potatoes (5 major markets)

Potato prices posted sharp losses as volume increased across markets. Weekly potato prices averaged R3,748 per ton, down 9% w/w but still up 146% y/y. Volumes traded reached 14,604 tons, up 15% w/w and down 7.3% y/y. Prices are expected to remain range bound at current levels on increased demand amidst large volumes. 0

6401,2801,9202,5603,2003,8404,4805,1205,7606,4007,0407,6808,320

21-Aug-15 25-Dec-15 29-Apr-16 02-Sep-16

0

2080

4160

6240

8320

10400

12480

14560

16640

18720

20800



Graph 6b: Fresh Produce Markets

- Potato prices

0

840

1,680

2,520

3,360

4,200

5,040

5,880

6,720

7,560

8,400

9,240

21-Aug-15 25-Dec-15 29-Apr-16 02-Sep-16

0

1000

2000

3000

4000

5000

6000

7000

8000

9000

10000



Graph 6c: Fresh Produce Markets

- Onion prices

____________________________________________________________________________________________________________________________________________

FNB Agri-Weekly

0

100

200

300

400

500

600

700

0

3,000

6,000

9,000

12,000

15,000

18,000

21,000

24,000

27,000

30,000

33,000

36,000

22-Aug-15 21-Dec-15 20-Apr-16 19-Aug-16

Graph 7b: Fresh Produce Markets - Avocado prices

Quantity (ton) (RHS) R/ton (LHS)

0

500

1,000

1,500

2,000

2,500

3,000

3,500

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

22-Aug-15 21-Dec-15 20-Apr-16 19-Aug-16

Graph 7a: Fresh Produce Markets - Apple prices


Vegetable prices: South Africa’s Major Fresh Produce Markets. (Average Pretoria, Bloemfontein, Johannesburg, Cape Town and Durban)

Week ending Average Total

19 August 2016 Price (R/t) w/w y/y Volume (t) w/w y/y

Tomato 3,351 22% -37% 4,815 -14% 10%

Potato 3,748 -9% 67% 14,604 15% -7.3%

Onion 5,613 -4% 146% 5,492 7% -16%

Carrot 2,507 -17% 12% 1,920 10% -8%

Cabbage 1,737 -10% 12% 1,616 6% 5% Source: FNB AgriComms

The Fruit Market Trends – 5 Major Fresh Produce Markets in SA (Graphs 7a to 7f)

Cabbages (5 major markets) The cabbage market resumed the weaker trend due to increased supplies on markets. The weekly cabbage prices closed at R1,737 per ton, shedding 10% w/w but still 12% higher y/y. Volumes of cabbages traded reached 1,920 tons, up 10% w/w but down 6% higher y/y. Marginal recovery is expected in the short to medium term as demand improves. However, the generally higher volumes will continue to limit upside potential.

0380

7601,1401,5201,900

2,2802,6603,040

3,4203,8004,180

4,5604,940

21-Aug-15 25-Dec-15 29-Apr-16 02-Sep-16

0

380

760

1140

1520

1900



Graph 6e: Fresh Produce Markets

- Cabbage prices

____________________________________________________________________________________________________________________________________________

FNB Agri-Weekly

0

200

400

600

800

1,000

1,200

1,400

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

22-Aug-15 21-Dec-15 20-Apr-16 19-Aug-16

Graph 7e: Fresh Produce Markets - Mango prices


0

200

400

600

800

1,000

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

22-Aug-15 21-Dec-15 20-Apr-16 19-Aug-16

Graph 7d: Fresh Produce Markets - Grapes prices


0

1,000

2,000

3,000

4,000

5,000

6,000

0

2,000

4,000

6,000

8,000

10,000

22-Aug-15 21-Dec-15 20-Apr-16 19-Aug-16

Graph 7c: Fresh Produce Markets - Banana prices


0

200

400

600

800

1,000

1,200

0

10,000

20,000

30,000

40,000

50,000

60,000

22-Aug-15 21-Dec-15 20-Apr-16 19-Aug-16

Graph 7f: Fresh Produce Markets - Pear prices


Source: FNB AgriComms

FRUIT PRICES: Major FPMs. (Average Pretoria, Bloemfontein, Johannesburg, Cape Town and Durban)

Week ending 19 August 2016

Average Price (R/t)

w/w

y/y

Total Volume (t)

w/w

y/y

Apples 6,832 1% 13% 2215 8% -10%

Avocados 10,657 3% -10% 421 -11% 50%

Bananas 8,233 2% 58% 1882 13% -39%

Grapes 47,583 -19% -8% 30 74% 67%

Pears 32,421 -2% -3% 720 8% 32% Source: FNB AgriComms

____________________________________________________________________________________________________________________________________________

FNB Agri-Weekly

FNB Business – Agriculture Meet our dedicated team of Agricultural Managers in various regions of South Africa

Name Location Cell phone Email Address**

Grew ar, Oosthuizen EASTERN CAPE -Port Elizabeth 071 607 6850 grewar.oosthuizen @fnb.co.za

Edmund, De Beer EASTERN CAPE -Port Elizabeth 084 656 5634 edebeer1 @fnb.co.za

David, Dobrowsky FREE STATE -Bethlehem 083 387 7977 Dobrowsky @fnb.co.za

Martin, Louw FREE STATE -Theunissen 082 784 8880 mlouw1 @fnb.co.za

Chris, Bekker FREE STATE -Bloemfontein 082 560 1894 cbekker @fnb.co.za

Jan, Theron GAUTENG -Pretoria 082 556 7494 jantheron @fnb.co.za

Greg, Sparrow KwaZulu-Natal -Pietermaritzburg 071 684 8420 greg.sparrow @fnb.co.za

Jurgens, du Preez KwaZulu-Natal -Newcastle 076 476 9571 jurgens.dupreez @fnb.co.za Herman, Claassens LIMPOPO -Tzaneen 082 370 5718

herman.claassens @fnb.co.za Adolf , Grobler LIMPOPO -Bela-Bela 082 337 6040

agrobler @fnb.co.za Stephan, Scheepers MPUMALANGA -Nelspruit 082 377 8516

sscheepers2 @fnb.co.za Theo, Verwey MPUMALANGA -Pretoria 082 419 6086

tverwey @fnb.co.za Pedrie, Van der Merwe NORTHERN CAPE -Kimberly 071 351 3439

pedrie.vandermerwe @fnb.co.za Frik, Coetzee NORTHERN CAPE -Upington 082 497 4769

frik.coetzee @fnb.co.za Johan, De Klerk NORTH WEST -BRITS 082 776 3477

jdeklerk2 @fnb.co.za Johan, Strydom NORTH WEST -Potchefstroom 082 497 2274

cstrydom @fnb.co.za Johan, Beukes WESTERN CAPE -Caledon 082 372 4656

jbeukes @fnb.co.za Lize, Morris WESTERN CAPE -Willowbridge 082 928 8546

lmorris @fnb.co.za Arno, Cloete WESTERN CAPE -Willowbridge 082 302 3621

arno.cloete @fnb.co.za **Please ignore the spaces in the Email addresses; they were inserted to break the links.

Disclaimer: This report may contain certain opinions, predictions and assumptions and has been compiled from a variety of sources. Accordingly, you use the information

in this report (“this information”) at your own risk and should not rely on it as a substitute for obtaining any specific professional advice you require.

Accordingly, First National Bank, a division of FirstRand Bank Limited (“FNB”) provides no warranties or undertakings of any kind, whether express, implied or

otherwise, concerning this information, its accuracy and/or reliability. Neither FNB nor its holding company, subsidiaries or other group companies will be liable

to you for any claims, demands, expenses, losses or damages, of whatsoever nature, which you may suffer or incur by using this information.

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