China eyes increase in South African agricultural imports, says Agbiz

THE Agricultural Business Chamber of South Africa (Agbiz) has expressed optimism over China's intentions to bolster its imports of South African agricultural products.

- YOGASHEN PILLAY

This development comes on the heels of a recent statement from Wu Peng, the current Chinese Ambassador to South Africa, who emphasised the need for enhanced bilateral trade and economic cooperation through social media platform X.

Peng further said that the Chinese government welcomes more South African agricultural and industrial products to enter the huge Chinese market.

Wandile Sihlobo, chief economist at Agbiz, underscored the significance of such statements from Chinese officials, particularly regarding trade matters.

“China has profound importance in global agriculture. In 2023, China was a leading importer, accounting for 11% of global agricultural imports, with imports valued at $218 billion," he said.

Sihlobo noted that Brazil, the United States, Thailand, and several other nations dominated the market as leading suppliers to China.

Nevertheless, he emphasised that China was actively seeking to diversify its agricultural imports, a push that has gained momentum following the implementation of initial tariffs by the US in 2018 and will continue into 2025.