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N$6,2 billion worth of fish exported up to July


FISH is usually one of Namibia’s top five export products, and averages 12,2% of total exports, making this sector a crucial foreign currency earner and export growth supporter.

However, according to an analysis by economic advisers Simonis Storm Securities, in value terms, fish exports decreased by 10,3% in July 2022, compared to a rise of 28,3% year on year (y/y) in June 2022.

From January to July fish exports totalled N$6,2 billion, compared to N$6,1 billion for the same period in 2021, representing a rise of 1,3% y/y.

“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.

However, the analysts believe increased costs of fuel, shipping, wages, and more are likely to 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.

The analysts say local livestock slaughtering has been fairly flat year to date, but exceeded levels recorded for the same period in 2021, and decreased by 29,4% on average for livestock sectors.

Year to date live exports have increased by 30,8% on average compared to the same period last year (January to August), with cattle live exports rising 7,9%, sheep live exports going up 58,0%, and goat live exports also rising by 26,4%.

Farmers Meat Market Mariental conducted test slaughtering at the end of August 2022, signalling the start of slaughtering activities on the basis of promising sheep numbers, according to the Meat Board.

Total livestock marketing activity (slaughtering and exports combined) increased by 39,9% y/y in the second quarter of 2022, compared to the second quarter of 2021.

During the first two months of the third quarter of 2022, total livestock marketing increased by 14,0% y/y compared to the same period last 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 recorded the highest number of pigs slaughtered in 2022 and is 19,2% higher than slaughtering levels in 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 usually the second-largest live cattle export market for Namibia, so with the resumption of live exports to South Africa, the outlook is positive.

The Namibian Agronomic Board (NAB) restricted the importation of 10 horticulture products in August 2022 and expanded this list to 11 products for September 2022.

This is indicative of local supply being insufficient to meet local demand, specifically for beetroots, cabbage, carrots, onions, pumpkins, sweet potatoes, tomatoes, tomato jam, lettuce, spinach and potatoes.

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