Ukraine crisis means food prices will see more spikes, not only in SA, but across Africa


Food price inflation in Africa is likely to intensify across the continent in coming months, due to the heavy weighting of food of between 30% and 50% in the CPI basket, coupled with forecasts that global food prices will follow an upward trajectory in the second quarter of the year. Many African countries rely heavily on Russia and Ukraine for wheat imports, and supply disruptions due to the Russian invasion are forcing governments to find alternative suppliers. While some countries are introducing incentives for farmers to increase production, others are introducing subsidies and price controls to limit pass these soaring…

Source link

Leave a comment