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SA at risk of becoming a net food importer - at a hefty price, warns Astral | Business

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Astral Foods has warned deteriorating water infrastructure and load shedding is putting the country at risk of ultimately becoming dependent on food imports, putting the poorest especially at the mercy of a volatile rand. | News24_Business

A potential shift to this worst-case scenario could mean rocketing food prices, with CEO Chris Schutte warning on Monday producers are under strain and that"something has to give".

"Profitability in the food sector is incredibly important to keep on producing food for our nation," Schutte said during an investor presentation shortly after the group reported an almost 90% plunge in first-half profit.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

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