The Agbiz/IDC Agribusiness Confidence Index (ACI) fell from the 50-point mark in the first quarter of the year to 39 in the second quarter. A level below the neutral 50-point mark implies that agribusinesses are downbeat about prevailing business conditions in South Africa.
The 10 sub-indices that make up the index all showed a significant decline in the second quarter of the year, with most reaching their lowest levels since 2009. This followed despite the fact that South Africa’s agriculture and food sector has, for the most part, been operational during the lockdown period to contain the spread of the coronavirus disease (COVID-19).
This story is from the July 03, 2020 edition of Farmer's Weekly.
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This story is from the July 03, 2020 edition of Farmer's Weekly.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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