October 30, 2009
South Africa animal feed market to experience sharp growth
South Africa's animal feed and additives market is projected to experience the highest opportunity growth in the near future, reaching nearly US$660 million by 2015, according to a new report.
The South African market for agriculture chemicals is currently facing several challenges due to the current economic recession, but there are some ways that can convert these challenges into opportunities, said the report.
The South African agriculture chemicals market is anticipated to grow in the long-term due to increasing pressure on farmers to boost the production of crops and livestock. There is also a rising trend in protein consumption and changing dietary patterns which will help promote demand for agriculture chemicals. These growth opportunities are set to have a positive long-term impact on the market, according to the report.
South Africa's agricultural industry is well-positioned to attract investors, since the new government had split the Agriculture and Land Affairs departments. This is seen as a positive move because the focus can be placed on improving agriculture and rural development at the same time.