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Import tariff hike won't hit bread prices - Grain SA

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Pietermaritzburg - Grain SA said the new import tariff on wheat is not expected to result in higher bread prices.

The association, which represents a number of grain farmers, has also questioned why the price of bread has not fallen since January 2015 in line with the low international wheat prices - Statistics SA’s bread price survey shows the prices have instead increased over this period.

The Finance Ministry on Friday approved an increase of wheat import duties by 34%, the highest on record, to protect local farmers, but it asked the trade commission to review the formula due to concerns about the effect of higher tariff’s on food prices.

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