Statistics South Africa (Stats SA) recently published its 2021 Agricultural Survey. Total income earned in the sector was R417,1 billion, up 11,9% from the R372,8 billion of 2020.
The livestock industry produced 38% of total income, followed by the horticultural sector at 26,5% and field crops at 19,5%.
Sales of field crops rose 24,2% year-on-year (y/y), while those of horticultural crops increased by 19%. In contrast, income from livestock increased by only 5,1% y/y.
Total expenditure in 2021 was 10,2% higher y/y, while capital expenditure rose 8,9% y/y. Some 52% of total expenditure was spent on farm requisites and 12% on salaries and wages.
Net farm income (the difference between income and expenditure) was R27,78 billion, 42% higher than the R19,48 billion of 2020. Capital expenditure increased by 18,8% y/y. These figures are summarised in the table below.
OUTLOOK FOR 2022 AND BEYOND
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