Why Pepper prices soared over 40% in one week to reach near record highs | Businessinsider

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Why Pepper prices soared over 40% in one week to reach near record highs | Businessinsider
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Prices for peppers in South Africa have skyrocketed to near record levels, shooting up by more than 40% in one week. | BISouthAfrica

Pepper prices saw a dramatic spike of 42% in one week and now cost R20.05 per kilogram.Red peppers are the most expensive variety and have breached the R40 mark per kilogram.Prices for peppers in South Africa have skyrocketed to near record levels, shooting up by more than 40% in one week.

"Pepper prices increased significantly to R20.05 per kilogram, 42% higher than the previous week. Volumes decreased by 22% the past week," Van der Merwe said. Pepper prices have remained on an elevated level. Last month, prices for the vegetable saw a massive spike and were as much as 105% more expensive than last year at the same time. The cost of peppers reached R20.30.

A packhouse manager at a Limpopo-based farm, Marlo Farms, which produces peppers, among other crops, said while the weather played a role in the weaker supply, it was not necessarily destroying the crops and that there was not a loss of crops because of damage. Jakes Jacob said the cold weather meant peppers took too long to colour and were harvested later than usual.

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