The Rand may have strengthened for now, but if you love red meat then brace yourself because economists are warning that SA consumers can expect at LEAST a 50% increase in the price of red meat in the near future because of the drought. That as well as a likely increase in the price of fuel.
SA is in the midst of the worst drought in a century.
This from debt expert Neil Roets.
“I expect a fuel price increase of about 18 cents a litre, but along with that we’re also seeing an increase in food prices. Meat prices will be going up soon, by about 50 to 60 percent.” [EWN]