There is optimism that the African Continental Free Trade Area (AfCFTA) is set to provide further opportunities for the expansion of South Africa’s agricultural exports into the African continent.
This view comes against the backdrop of Africa being the largest market for South Africa’s agricultural sector – accounting for an average of 43% (or USD4,1 billion) a year of all agriculture exports over the past decade. So how much more potential can South Africa unlock in the African market? In the recent Market Viewpoint, we argue that the benefits of the AfCFTA are not as much as previously thought, due to structural limitations that will prevent the agricultural sector from expanding its exports into untapped markets. Read more in the October 2021 edition of Agripen