FISH is one of Namibia’s top 5 export products. On average, 12,2% of total exporteds comes from FISH. This sector is an important export growth and foreign currency supporter.
According to Simonis Storm Securities’ analysis, the value of fish exports fell by 10,3% in July 2022 compared to a rise in 28.3% year-on-year (y/y), in June 2022.
Fish exports rose 1,3% from January to July, to N$6,2 billion in 2021.
“In terms of quantity exported, we believe fish production could be marginally positive during 2022 as quotas were given out on time. In terms of value, the weaker rand exchange rate should boost the value of fish exports, improving the revenues of fishing companies,” Simonis says.
Analysts believe that rising fuel costs, shipping costs, wages, and other expenses will limit revenue growth.
“Overall, we remain positive on seeing flat to marginally positive growth in the fishing sector, estimated at 3,2% of gross domestic product (GDP),” Simonis says.
Analysts say that while local livestock slaughtering was relatively flat, it exceeded levels in 2021 for the same period. They also noted that livestock sector averages have decreased by 29,4%.
Year-to-date live exports have increased 30,8% on average when compared to the same period last years (January to August). Live exports for cattle rose 7,9%, while those for sheep rose 58,0% and goat live exports rose 26,4%.
Farmers Meat Market Mariental performed test slaughtering at end August 2022. This signalled the start of slaughtering activities based on promising sheep numbers, according the Meat Board.
The second quarter 2022 saw an increase in total livestock marketing activity (slaughtering plus exports) of 39,9% y/y compared with the second quarter 2021.
The total livestock marketing increased by 14,0% y/y in the first two months 2022’s third quarter compared to the previous year.
“This signals that the third quarter of 2022 has great potential in contributing to the livestock sector’s GDP growth rate, supporting the overall agriculture industry’s growth dynamics as livestock accounts for about 35% of the industry,” say the analysts.
August saw the highest number of pigs killed in 2022, which is 19,2% more than August 2021.
“The temporary suspension of cattle exports occasioned by a ban on movement of livestock in neighbouring South Africa had varying impacts in the industry with the cattle sector being the most affected,” the Meat Board says.
South Africa is Namibia’s second largest live cattle export market. Therefore, the outlook is good with the resumption live exports to South Africa.
The Namibian Agronomic Board (NAB), which had previously restricted importation of 10 horticulture product in August 2022, has now expanded the list to 11 products in September 2022.
This indicates that local supply is not sufficient to meet local demand, especially for beetroots and cabbage, carrots.
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Source: namibian
