YIn the first quarter of 2022, the agricultural sector grew by 0.8% quarter on quarter and 3.6% year on year. While high prices resulting from international market dynamics are supporting revenue, sharp cost increases are constraining profits.
For the full year 2022, BFAP expects positive growth in the sector, but the rate of growth is expected to slow drastically compared to the past 2 years – mostly as a result of spiralling costs and ongoing challenges in ports that are detrimental to export performance.