South Africa: Plough Market 2024

Plough Market Size in South Africa

In 2022, the South African plough market decreased by -2.3% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, saw a remarkable increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Plough Production in South Africa

In value terms, plough production stood at $X in 2022 estimated in export price. Overall, production continues to indicate strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 44% against the previous year. Plough production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Plough Exports

Exports from South Africa

In 2022, overseas shipments of ploughs for agricultural purposes increased by 22% to X units, rising for the second consecutive year after three years of decline. In general, exports, however, showed a deep slump. The growth pace was the most rapid in 2021 with an increase of 72% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, plough exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a mild setback. The pace of growth appeared the most rapid in 2021 when exports increased by 62% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Zimbabwe (X units), Tanzania (X units) and Swaziland (X units) were the main destinations of plough exports from South Africa, together comprising 41% of total exports. These countries were followed by Mozambique, Namibia, Madagascar, Botswana, Zambia and Lesotho, which together accounted for a further 48%.

From 2012 to 2022, the biggest increases were recorded for Madagascar (with a CAGR of +73.3%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Zimbabwe ($X), Tanzania ($X) and Swaziland ($X) appeared to be the largest markets for plough exported from South Africa worldwide, with a combined 41% share of total exports. Mozambique, Namibia, Madagascar, Botswana, Zambia and Lesotho lagged somewhat behind, together comprising a further 48%.

Madagascar, with a CAGR of +79.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plough export price stood at $X per unit in 2022, with an increase of 10% against the previous year. Overall, the export price continues to indicate strong growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 46%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Madagascar ($X per unit) and Namibia ($X per unit), while the average price for exports to Zambia ($X per unit) and Mozambique ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lesotho (+22.8%), while the prices for the other major destinations experienced more modest paces of growth.

Plough Imports

Imports into South Africa

Plough imports into South Africa rose sharply to X units in 2022, surging by 10% against the year before. In general, imports, however, recorded a abrupt setback. The growth pace was the most rapid in 2021 when imports increased by 88%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, plough imports expanded notably to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 91% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X units), India (X units) and China (X units) were the main suppliers of plough imports to South Africa, together comprising 79% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +12.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest plough suppliers to South Africa were the United States ($X), India ($X) and China ($X), together comprising 79% of total imports. Mexico, Brazil, the Netherlands, Turkey, Germany and Pakistan lagged somewhat behind, together comprising a further 19%.

The Netherlands, with a CAGR of +23.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average plough import price amounted to $X per unit, picking up by 2.9% against the previous year. Overall, the import price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by 43% against the previous year. The import price peaked at $X per unit in 2018; afterwards, it flattened through to 2022.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Pakistan ($X per unit) and Germany ($X per unit), while the price for China ($X per unit) and Mexico ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Botswana (+25.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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