The total number of cattle marketed in March 2022 was 17 493, a slight decrease of 1% from 17 711 recorded in February 2022. 

Beef prices per kg averaged at N$60.3 for the first quarter of 2022. 

This is according to the latest Market Watch report by Agribank. 

World beef prices are expected to remain on an upward trajectory for the rest of the year, on the back of high input costs and low supply amidst the robust demand from China.  

Sheep marketing stood at 56 163 in March 2022, recording a 74% increase from the 32 243 in February 2022. 

The increase is mainly driven by live sheep exports to South Africa, due to the lack of competitive prices in the local market. 

A total of 9 401 goats were marketed in March 2022, a 29% increase from the prior month, the report states.  

The marketing in this sector is traditionally dominated by live exports to the Kwazulu-Natal province in South Africa, as local abattoirs are not offering competitive prices.  

Rainfall Performance  

The anticipated rainfall for January to March 2022 was finally received in most parts of the country, recording two to three times more than the usual amount. 

However, the rainfall received to date did not normalise the situation in Omusati, Oshana and western Ohangwena region.  

Therefore, the risk of crop failure and water availability remains a major concern. 

Vegetation growth is above average in most parts of the country by the end of March 2022; however, it remains below average in the northeastern regions. 

As a result of the long-term drought situation and poor rainfall, measures and solutions need to be put in place to support farmers in these regions.  

Food inflation metrics 

Consumers are temporarily relieved from high meat and vegetable prices, however, shortages in processed food supplies have made it more expensive to buy cooking fat products. 

In March 2022, food inflation slowed down to 4.7% from the 7.1% recorded in the same period in 2021.  

The decline results from meat prices that reduced to 4.4% from 13.3% in 2021. 

Last year, meat products were expensive due to supply shortages.

Improved livestock marketed as a result of good rains and better grazing land has contributed to the slowdown in meat prices in 2022.  

Prices for oils and fats increased by 15.6% in March 2022, compared to 9.4% in March 2021. 

The increase is backed by notable increases in the following categories: cooking fats increased to 36.6% from -2.7%, cooking oil increased to 20.3% from 15.8%, and margarine spreads increased to -1.7% from 12.3% in March 2021.  

“This accelerationist effect is mainly driven by the shortages in Sunflower oil supplies from Ukraine. Prices are expected to remain on an upward trajectory for the remainder of 2022; local substitutes are encouraged to curb the impact on the consumer,” Agribank states. 

The prices for vegetables decreased to 4.6% in March 2021 from 7.3% recorded in the same period in 2021. 

The slowdown resulted from decreases observed in cabbage, sweet potatoes, cucumber and spinach due to sufficient local supply.