We look at how the Ukraine-Russian war is negatively affecting our economy and agricultural sector. During yesterday’s debate in Parliament on the Russia and Ukraine conflict. Deputy Finance Minister David Masondo warned that with South Africa being a net importer of oil, the persistent conflict in Ukraine is having a severe impact on fuel prices which, in turn, is driving up food prices. He also revealed that since the conflict, there have already been sharp increases in the prices of crude oil, maize, wheat and sunflower oil future contracts – and according to him this is likely to persist until a resolution to the conflict is found.
Guest: Christo van der Rheede, CEO of Agri-SA