Isaac Moledi
Isaac Moledi
Production problems in several major exporting countries are the main cause of higher food prices in South Africa, Standard Bank economist Danelee van Dyk said yesterday.
Van Dyk said the high cost of basic staples could have a devastating effect on individuals and the world's economy.
In just two months, rice prices have risen by about 75percent globally.
The World Bank also shows that wheat has risen by 120percent and petrol by 55 percent in the past year.
'Production main cause'
Isaac Moledi
Isaac Moledi
Production problems in several major exporting countries are the main cause of higher food prices in South Africa, Standard Bank economist Danelee van Dyk said yesterday.
Van Dyk said the high cost of basic staples could have a devastating effect on individuals and the world's economy.
In just two months, rice prices have risen by about 75percent globally.
The World Bank also shows that wheat has risen by 120percent and petrol by 55 percent in the past year.