Rising oil prices adds to SA’s avian flu woes: Difficult time ahead for poultry, egg industry

  • 📰 TheCitizen_News
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 75%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

With SA already dealing with the threat of load shedding, producers now have to contend with rising oil prices and avian flu.

Makube says that if the situation persists, this grim statistic may continue to climb, potentially leading to dire financial consequences for producers already grappling with financial strains.

He said that the resurgent Brent crude oil price surged by a staggering 7.5% month-on-month in August 2023, reaching a high of US$90 per barrel. “The concurrent reduction in bird numbers due to the avian flu outbreak will result in diminished incomes, posing a real threat of financial ruin for many industry players,” Makube said.For consumers who were hoping for a respite from rising food prices, the situation is grim.

“This unwelcome development promises to put upward pressure on food inflation, which had seen a modest decline from its peak of 14.4% year-on-year in 2023 to 8.2% year-on-year in August 2023,” the agriculture economist said.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 6. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

L’Oréal CEO sees beauty market rising to €400bn by 2030He sees growth coming from the rise of middle classes as well people wanting premium products with higher price tags and a widening consumer base beyond women and young people.
Källa: Moneyweb - 🏆 5. / 77 Läs mer »