Food prices set to increase

2014-02-06 00:00

IT’S time to batten down the hatches, say the experts. Things are about to get rough.

The major fast-moving consumer goods producers and distributors have already warned retailers of price increases of five to 10%, and these prices could rise further in March.

The prices of major food ingredients such as wheat, maize and rice have been hit hard by the weaker rand as the prices of these commodities are based on dollar prices.

The prices of potatoes, bread and meat are expected to rise.

On top of that, logisics companies have been severely affected by the rising cost of fuel.

Economist Dr Clive Coetzee, who is the general manager of infrastructure management and economic services at the KZN Provincial Treasury, said that unless you are an exporter or an active saver, it will be difficult to find positive factors in the current situation.

“Businesses should focus on cash flow and productivity, and households should find ways to save,” he said.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.