DStv Channel 403 Tuesday, 26 November 2024

SA's economic trouble | Sugar prices leave a bitter taste

JOHANNESBURG - The war in Ukraine is leaving a bitter taste in our mouths.

Agricultural economist Paul Makube says it is driving up the prices of sugar.

And now corruption is making that bitterness last longer.

READ: Sugar industry wants levy scrapped

The prices of sugar, sweets and desserts are at their highest since 2017.

Between April and May, it surged by 2.7 percent.

"This is largely due to a combination of international developments in terms of elevated sugar prices," says Makhube.

"We had drought situation globally, we had a war situation in Ukraine and Russia that erased the freight costs, and locally the Tongaat Hullett situation with production interruptions reduced availability on the local market," he adds.

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