News Formal

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

  • 📰 News24
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 80%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Govt 'asleep at the wheel': SA's biggest chicken producer warns of social unrest | BusinessAstral Foods has warned SA will experience political instability and policy uncertainty in the lead up to the 2024 elections, while contending with failing infrastructure and a lack of municipal service delivery from a government 'asleep at the wheel'.
Source: News24 - 🏆 4. / 80 Read more »

Dark cloud over ChatGPT revolution: the cost | BusinessThe explosion of generative AI has taken the world by storm, but one question all too rarely comes up: Who can afford it? | News24_Business
Source: News24 - 🏆 4. / 80 Read more »