South Africa

Fuel price increase set to cost agriculture sector up to R1bn

The agricultural sector, which grew 27.8% in the first quarter, is set to lose up to R1bn in input costs due to the fuel price increase which industry leaders say will have a knock-on effect on food prices.

The mineral resources & energy department announced on Monday that petrol will increase by 5c and diesel by 45c at midnight on Wednesday, due to the dollar/rand exchange rate and an increase in crude oil price.

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