[SPONSORED] Throughout the two difficult Covid19 years, agriculture has been supporting SouthAfrica through economic shocks. Nedbank Moneyweb TakeYourMoneySeriously
In 2020 the South African economy contracted by 7%. It was a record, and not the kind that you want against your name. With global lockdowns and almost all sectors disrupted, growth was in short supply.
“For pears and apples, it’s about five million cartons – so Russia is definitely an important [contributor to] demand.” He argues that the lack of subsidies and government backing over many years has actually set the sector up for sustainability in the face of uncertainty.The repercussions of the Eastern European conflict can already be felt in higher fuel prices and, of particular concern for the agricultural sector, in fertiliser prices. It will also filter through into food prices.
Producers could still look at import substitution or finding new markets for the fruit that was planned for Russia, but the inflationary pressure will cause suffering for the part of the population that is already going to bed hungry. As an institutional lender to the sector, Nedbank AgriBusiness has witnessed demand for loans in this space increase.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Huawei South Africa and labour department settle over employment violationsHuawei has reached a settlement with the labour department over its employment of around 90% foreign nationals.
Read more »
Facebook to be prosecuted in South AfricaThe Competition Commission has referred to the Competition Tribunal for the prosecution of the social media giant, Meta Platforms, and its subsidiaries, WhatsApp Inc and Facebook South Africa for abuse of dominance.
Read more »
Freshened-up Toyota Glanza revealed in India as South Africa bound StarletCompared to its predecessor, the Starlet is better distinguished visually from the Suzuki Baleno it is spun-off of.
Read more »
Tuberculosis: South Africa’s forgotten killerTuberculosis: South Africa’s forgotten killer: Sidelined during the Covid-19 pandemic, the country’s deadliest disease has been working under cover
Read more »
Government warns of possible petrol restrictions in South AfricaThe Department of Mineral Resources and Energy is considering a number of interventions to address South Africa’s record-high fuel prices – including the possible introduction of fuel limits.
Read more »
South Africa’s state of disaster extended as it passes the two-year markCooperative Governance and Traditional Affairs minister Nkosazana Dlamini-Zuma has extended South Africa’s national state of disaster by a further month.
Read more »