Namibia’s beef market recorded a 36% growth in cattle marketed in October 2022, due to a 60% increase in live exports to 15,667 in October from 9,808 recorded in the prior month, latest figures from Agribank show.
In its Market Watch for October 2022, released on Wednesday, Agribank said 99% of these cattle were exported to South Africa, following the ban on the movement of cattle that was lifted in September 2022.
“The total number of cattle marketed stood at 21,991 heads in October 2022, which is a 36% increase from the 16,164 marketed in September 2022. We expect livestock marketing to remain on an upward trajectory for the rest of the year, coupled with the anticipated rainy season and the resumption of weaner exports to SA,” reads part of the Agribank report.
The report added that small stock marketing performed relatively well in October after Sheep marketing recorded an average decline of 30% from July 2022 to September 2022.
The bank noted that October showed a potential turn-around, declining at a slower pace of 9% to 24,043 marketed heads from 26,517 in September 2022.
Additionally, remarkable growth was noted in Goats marketing, recording a 44% increase to 16,965 heads in October 2022 from 11,745 in September 2022.
“The growth was driven by an increase in marketing activities in live exports that spiked by 43% to 16,749 in October 2022 from 11,742 in the prior month.”
Meanwhile, in terms of the Namibian food inflation drivers, food inflation spiked to 9.2% in October 2022 from 5.4% recorded in the same period last year.
Prices of Oils and fats continue to drive food inflation, escalating by 24.6% compared to the prior year. Cooking Oil and Margarine remain expensive on retail shelves.
Similarly, Fruit prices increased by 21.6% in October 2022, from 15.4% in the same period in the prior year.
Agribank noted that the main drivers of this sub-category are avocados and citrus fruits where the local supply is low.
The inflation for watermelons notably increased to 24.7% compared to 3.2% in October 2021.
“Early harvest farmers usually take advantage of the price, in October farm gate prices were ranging from N$60 per watermelon, this price significantly reduced to N$30 by the end of October to early November when the supply increased.”
The bulletin shows that the anticipated occurrence of a La Niña continues to threaten food production and global food prices.
