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Commodities: African softs take root
16 June 2011
High commodity prices, a focus on food security and aggressive traders are creating some of the best conditions for soft commodity deals in sub-Saharan Africa since the global economic crisis. Dickon Harris examines the sub-Saharan softs scene.
Read more:
Africa soft commodities
Standard Chartered commodities
Export Trading Group
Afgri Limited
Texel
Citi Africa
Standard Bank commodities
IFC Africa
OPEC Fund
Banks are returning to Africa, and the events of the Arab Spring have pushed banks with African appetite and aspirations to look more closely at sub-Saharan Africa. The oil and energy sector continues to demand the largest lines and the bulk of trade investment but Africa’s agri scene is expanding more rapidly than ever before.
According to the ABC/IDC Agribusiness Confidence Index, a survey of agribusinesses in South Africa, confidence among firms is at a three-year high. This has been driven by the improving South African economy, high commodity prices, most notably for grain, a strong South African rand and continued government investment. South Africa is estimated to produce 11 million tonnes of maize this year, an increasing amount of which will be earmarked for exports.
South Africa’s success is symptomatic of the continent and the African agri scene as a whole is picking up. This has...
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