Agbiz/IDC Agribusiness Confidence Index unchanged for Q1

After deteriorating by 10 points to 40 in the fourth quarter of 2023, its lowest level since 2020 at the height of the pandemic, the Agbiz/IDC Agribusiness Confidence Index (ACI) was unchanged in the first quarter of 2024. The reading is below the neutral 50-point mark, implying that South African agribusinesses remain downbeat about business conditions. Agbiz Chief Economist Wandile Sihlobo upacks some of factors which lead to the decline…