– especially the agricultural industry, as fuel accounts for 13% of its input costs, said chief economist at the Agricultural Business Chamber of South Africa Wandile Sihlobo.latest food inflation brief
While the group noted that local prices had been kept lower than international markets due to local surplus production, it warned that under a scenario where South Africa does not produce surpluses of these crops, prices would rise to import parity – this would lead to price increases of at least 30%.
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