SA wheat tariff hike won�t impact on local market
Thursday, April 14, 2016
Speaking to the Mmegi Business in an interview, Nkosi Mwaba the association’s chairman said the 34 percent increase in the import duty on wheat announced by the South African government last week will have no direct impact on the local market.
“We trade on Safex (South African Futures Exchange) and as of today there has not been any movement of prices of bread and food,” he said.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...