Weekly Price Watch: 03 May 2013
Directorate: Statistics & Economic Analysis
Sub-directorate: Economic Analysis
Closing prices at Friday
RSA White Maize per ton (May contract)
RSA Yellow Maize per ton (May contract)
USA Yellow Maize per ton (May contract)
RSA Wheat per ton (May contract)
USA Wheat per ton (May contract)
RSA Soybeans per ton (Jul contract)
USA Soybeans per ton (May contract)
RSA Sunflower seed per ton(May contract)
Exchange rate R/$
Oil price per barrel
1 year ago
(03/05/2012)
Last week
(26/04/2013)
This week
(03/05/2013)
w-o-w % change
R2 060.00
R1 965.00
$252.82
R2 660.00
$223.03
R3 956.00
$543.80
R4 788.00
R7.73
$115.91
R2 111.00
R2 131.00
$254.00
R3 390.00
$257.64
R4 737.00
$537.24
R5 202.00
R9.15
$102.97
R2 193.00
R2 212.00
$274.55
R3437.00
$264.04
R4 576.00
$529.47
R5 185.00
R8.95
$104.26
3.9%
3.8%
8.1%
1.4%
2.5%
-3.4%
-1.4%
-0.3%
-2.2%
1.3%
Discussions
Prices of local and international oilseed products declined this week compared to last week, while all other major
grain prices increased. The prices of SA soybeans and sunflower seed decreased by 3,4% and 0,3% respectively;
while white maize, yellow maize and wheat prices increased by 3,9%; 3,8% and 1,4% respectively. The price of
US soybeans decreased by 1,4% compared to last week. A boost in ethanol production and old crop export sales
boosted the prices of US maize and wheat which increased by 8,1% and 2,5% respectively, compared to the
previous week. The Rand appreciated by 2,2% against the US dollar as better than expected US jobs data gave
impetus to foreign buying. The price of oil increased by 1,3% this week due to an improvement in US jobs data;
and further boosted by the European Central Bank and the US Federal Reserve’s decision to stimulate growth which is expected to boost oil demand.
Latest news developments
South Africa is preparing to promote itself as an attractive investment destination as leaders worldwide descend on
Cape Town for the 23rd World Economic Forum next week. Trade Union Uasa’s South African Employment report,
which was launched on Friday by economist Mike Schussler, showed that salary increases were being increasingly
consumed by higher taxes, pension fund contributions, medical insurance and administrative expenses, such as
municipal rates and school fees, which were under upward pressure from rising inflation. The DTI is on a mission
to promote SA trade with Algeria – Algeria has been the leading export destination in North Africa for South African
products from 2008 to 2012. The World Economic Forum says the manufacturing sector has a fundamental role to
play in global economic growth which includes job creation for emerging economies and developed markets.
Source: SAFEX, Reserve Bank, Business Day, Stats SA
Disclaimer: DAFF will not be liable for results of actions based on this price watch
Rose Mukwevho
Tel: 012 319 8115 or Cell: 073 248 9486, Email: [email protected])