Fuel price drop will aid farmers AgriSA says, but Cosatu says it is not enough

The agriculture sector, which is battling drought conditions and more recently the global effects of the coronavirus outbreak, has welcomed the drop in fuel prices, saying it will have a positive effect on food inflation and will provide relief for farmers ahead of the harvesting period.

Business Day had reported that SA’s agricultural sector could lose as much as R39.23bn in export revenue due to the coronavirus outbreak, as China has temporarily closed its manufacturing hubs and restrictions on human movements could negatively affect demand from local firms.

“Given that 70% of SA’s food is transported by road, the decrease in the petrol and diesel price is likely to have a positive effect on food inflation, easing pressure on consumers who are already struggling to make ends meet.”

Source: Financial Digest (financialdigest.net)

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