Damages amounting to a quarter of a billion rand in South Africa's sugar sector resulting from the devastating KwaZulu-Natal floods have had a ripple effect on the snacks and treats industry, a new report said.
South Africa's sugar growers are still recovering from R223 million's worth of losses resulting from 2,516 hectares of cane field damaged when flooding wreaked havoc in KwaZulu-Natal. The sugarcane crops on these fields, which required replanting, suffered severe crop and root damage. "It is going to take time to replant the plantation and more time before the plantation becomes productive. This will increase the price consumers pay at the end of the day, because imports are more expensive," she said.Locally and globally, floods have also impacted potato chips, and manufacturers have warned of shortages in 2022, Euromonitor said.
With consumers spending power waning, the snacks industry is negatively affected by increased rational spending, and shoppers sticking to tight budgets.
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