Moderate growth in the agriculture sector expected – Expert
The outlook for the 2020/21 crop season has improved as rainfall covered most of the crop-rich regions in the country, with farmers hopes restored, an expert said.
The rainfall is expected to yield improved crop output and restore the storage capacity of dams which are used for agricultural purposes, Agribank’s monthly market analysis released Tuesday added.
“With better rainfall this planting season, the crop sub-sector could surprise to the upside, whilst hope for improved grazing conditions is restored. To this end, we expect moderate growth in the agriculture sector,” Agribank’s senior research and product development officer, Indileni Nanghonga,
According to Nanghonga, the demand for agri-commodities remains strong in 2021, but she said supply disruptions caused by weather conditions could result in even higher food prices.
Furthermore, she said that crop pests and diseases, however, remain key risks to the crop sector.
According to Nanghonga, livestock farmers can take advantage of the current high livestock prices to improve profitability whilst carefully balancing that opportunity with the need to grow future herds.
Meanwhile, Nanghonga said the Namibian economy is likely to witness pockets of growth in certain industries such as mining, agriculture, and manufacturing. However, the consumer environment coupled with the hospitality industry could remain strained over the medium term