SA must pursue diversification opportunities to protect agri exports

South Africa faces renewed pressure to diversify agricultural exports. Economist Bhekani Sandile Zondo urges exploring Asian and European markets, reports Octavia Avesca Spandiel.

- By Octavia Avesca Spandiel

South Africa's agriculture sector is facing fresh pressure to diversify its export markets following the US's imposition of a 30% reciprocal tariff on all imports, a move that threatens the competitiveness of key local products in one of the country's top trading destinations.

Speaking to Farmer's Weekly, Bhekani Sandile Zondo, economist at the National Agricultural Marketing Council (NAMC), said the new tariff regime could have “profound economic and policy implications” for an industry heavily reliant on global market access.

“For years, our agriculture sector has enjoyed duty-free access to the US under the African Growth and Opportunity Act (AGOA) and the Generalised System of Preferences (GSP).

“These privileges helped make the US one of our top six markets, accounting for 4% of our agricultural export value,” he added.

EXPORTS HIT NEW HIGH BUT FACE FUTURE RISK