for subscribers

Drought is driving costs

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Johannesburg - The drought in the country is having a severe effect on local food companies by increasing their costs, while poultry companies’ profits are evaporating amid significant poultry imports.

Major local poultry producer Astral Foods is battling high feed costs amid the devastating drought, which is knocking its profits. At the same time, its selling prices are under pressure due to a record amount of poultry imports.

Astral said this week: “On account of the severe drought affecting the country, poultry feed prices increased ... This resulted in a higher feeding cost driving the production cost of poultry up, which would not be recovered through the selling price to the end user.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.49
(+0.90)
ZAR/GBP
22.83
(+1.35)
ZAR/EUR
20.54
(+1.13)
ZAR/AUD
12.50
(+1.28)
ZAR/JPY
0.16
(+1.63)
Gold
1914.41
(-5.61)
Silver
24.83
(-14.54)
Platinum
931.00
(-5.42)
Brent Crude
44.95
(+1.33)
Palladium
2081.07
(-6.36)
All Share
57168.24
(+0.72)
Top 40
52831.61
(+0.76)
Financial 15
10215.75
(+3.21)
Industrial 25
75524.64
(+1.14)
Resource 10
58677.82
(-0.46)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 960 votes
It depends on how the funds are used.
74% - 6390 votes
No. We should have gotten the loan elsewhere.
15% - 1317 votes
Vote