South Africa’s agricultural trade surplus hit a record $1.55 billion in the first quarter of 2026, up 16.1% year-on-year, according to agricultural union AgriSA. The gain stemmed mainly from a 10.6% drop in import costs—linked to cheaper palm oil, rice, frozen fish, and coffee—rather than export growth, which rose just 0.1% to $3.30 billion. Horticulture, boosted by grapes, pome fruit, and wine, made up 55% of exports, its highest first-quarter share ever, generating a surplus of about $1.66 billion. Meanwhile, animal product exports fell sharply due to foot-and-mouth disease-related market closures, and maize export values dropped despite higher volumes shipped. If livestock export restrictions ease and horticulture momentum continues, the country could build on last year’s record $15 billion in exports, marking another strong year.
Ecofin Agency
