El Niño dries up South Africa’s agricultural business confidence for the second quarter

The Agricultural Business Chamber of South Africa (Agbiz) and Industrial Development Corporation’s Agribusiness Confidence Index (ACI) reached a 15-year low of 38 points in the second quarter of the year.

This is the lowest level since the third quarter of 2009 and compares with a level of 40 in the first quarter of the year.