South Africa’s agricultural sector has achieved a record-breaking export milestone, with overseas sales climbing by 3% to nearly $14 billion (R258 billion) in 2024. This marks the sixth consecutive year of growth despite challenges such as a midsummer drought that impacted grain and oilseed production. According to a report by the Agricultural Business Chamber of South Africa (Agbiz), the country’s strong fruit harvest, livestock recovery, and carryover grain reserves from the previous season played a vital role in boosting exports. African countries remained the largest market, accounting for 44% of South Africa’s agricultural trade, followed by Asia and the Middle East (21%) and the European Union (19%). While concerns persist about the potential termination of the African Growth and Opportunity Act (AGOA), exports to the United States made up only 4% of the total, largely driven by citrus, grapes, wine, and fruit juices.
On the import side, South Africa saw an 8% increase, reaching $7.6 billion due to rising demand for key commodities such as wheat, palm oil, rice, and poultry. This led to a trade surplus of $6.2 billion, a slight 2% decline from the previous year. Despite this dip, the overall performance of the sector remains strong, with consistent export levels for high-value agricultural goods. The resilience of South Africa’s agricultural trade underscores the importance of strategic market access, particularly as the global trade landscape evolves. While AGOA’s future remains uncertain, industry leaders are focused on strengthening trade relations with other key markets.
To sustain this growth, Agbiz has recommended expanding South Africa’s footprint in BRICS markets, including China, India, Saudi Arabia, and Egypt. The goal is to lower import tariffs and remove trade barriers that hinder exports. The report also highlights emerging opportunities in markets such as South Korea, Japan, Vietnam, Taiwan, Mexico, the Philippines, and Bangladesh. By diversifying export destinations and addressing regulatory challenges, South Africa can further solidify its position as a leading global agricultural exporter, ensuring continued prosperity for the sector in the years ahead.