The Bureau for Food and Agricultural Policy (BFAP) has highlighted the continuing economic growth of the South African agricultural sector during the first quarter of this year (Q1 2022) but has warned that this growth was expected to decelerate “drastically” over the course of this year. In year-on-year (y-o-y) terms, the country’s agricultural gross domestic product (GDP) grew by 3.6%, and in quarter-on-quarter terms by 0.8%. Agriculture, the BFAP pointed out, was one of the few sectors of the economy which had displayed consistent growth in the past few years. However, the growth rate had begun to slow, because of increasing costs, which have been eating into profits. This trend would continue.
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