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It’ll only be a matter of time until the Russia-Ukraine conflict has an impact on food prices in South Africa.
Domestically, the battle is largely to blame for rising fuel costs, which will have a knock-on effect.
Paul Makube, an agricultural economist, uses the example of a loaf of bread to illustrate how overseas trends affect us here in the United States.
“We are wheat importers.” If the current trend continues, we should expect a price increase of more than 10%.”
“Grain prices have responded mostly owing to the influence of changes on the worldwide market,” Makube said, adding that grain prices should be continuously monitored.
Due to Russia’s embargo of Ukraine’s black sea ports, the country threatens to lose millions of tons of food.
According to the country’s Volodymyr Zelensky, this might lead to a food crisis that will affect Europe, Asia, and Africa.
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