Rising food costs to slow down
The escalating food prices might slow down in the next four years, but will not be coming down any time soon.
This is according to Agri-SA chief executive Hans van der Merwe.
Addressing a media briefing in Midrand yesterday, he said rising demand from countries like China and India, coupled with escalating fuel costs, meant that production had a long way to go before catching up with the demand.
"With the economic development in India and China, there is a surge in demand for food.
"With fuel prices on the rise, the cost of producing food has also gone up."
Yet it was not all gloom and doom.Van der Merwe predicted a slowdown in rising food costs in the next four years. But this did not mean the end to food price increases. Agri-SA president Lourie Bosman said the rising food prices were good for the farmers.
"Increasing food prices mean more money goes into production, which leads to better food security."