In brief “THIS IS A DARK CLOUD WITH NO SIL­VER LIN­ING. AND IT’S NOT A RAIN CLOUD.”

Finweek English Edition - - OPINION -

– As­tral Foods CEO Chris Schutte on the im­pact that cur­rent El Niño con­di­tions are hav­ing on the agriculture sec­tor. Due to the cur­rent drought, South Africa will need to im­port an es­ti­mated 770 000 tons of maize this sea­son, at a cost of about R2.2bn at cur­rent prices, ac­cord­ing to Agri SA. This will re­sult in SA be­com­ing a net im­porter of maize for the first time in seven years. (Also see page 29.)

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