Advertise with fastmoving.co.za
 
 

Food may become “unaffordable”
Food may become “unaffordable”

Food may become “unaffordable”

ECONOMIC NEWS

IOL Business - Mar 3rd 2016, 10:17

Johannesburg - South Africa's agriculture sector, which has been ravaged by the worst drought in recent times, has seen its input to gross domestic product (GDP) shrink by 14 percent. 

This has prompted the Democratic Alliance (DA) to warn food may become “unaffordable”.

DA shadow minister of agriculture, forestry, and fisheries, Annette Steyn, said on Wednesday (2 March), “If we do not unite in actively fighting the drought, South Africa's economy will be brought to its knees, placing food security at great risk and leading to unaffordable food price inflation.”

Reacting to the drop in GDP figures released by Stats SA, Steyn said the DA was deeply concerned about the future of the agriculture sector in South Africa.

Steyn said, “The figures show an agriculture sector shrinking at an alarming rate, a culmination of inadequate government planning and economic stimuli, deepened by the effects of the current drought gripping the whole country.”

According to the report, the agricultural sector shrunk by 14 percent during the 4th quarter of 2015, and by 8.4 percent from 2014 to 2015.

This is the largest decline in the sector since 1995. Steyn said since the outbreak of the drought, 37 000 jobs in agriculture had been lost. She said there had also been a knock-on effect on the manufacturing sector, where 36 000 jobs have been lost, mostly in food processing.

“The DA therefore again urges government to declare the current drought a national disaster in order to provide a coordinated response to the disaster,” said Steyn.From © Independent On-line 2016. All rights reserved. 

Read more about: stats sa | south africa | gdp | food | da

Related News

Regulation of online and mobile gambling in Africa must gather pace
29/10/2019 - 10:20
The gambling industry in Africa has been busy recently following the ICE Africa and Big African Summit events. These explored the current state of legal gambling within the continent and included conferences by established industry professionals.

Inflation slows in September
23/10/2019 - 13:38
Inflation moderated to an annualised 4.1% in September, surprising analysts, and boosting the expectation that SA’s embattled consumers may get another interest rate cut in 2019.

Pick n Pay unveils its revamped "On Nicol" flagship store
18/10/2019 - 10:59
Pick n Pay’s flagship store On Nicol officially welcomed customers after a comprehensive revamp. The refurbished store has an exciting array of new offerings with the very best in retail concepts developed in South Africa and from around the world. Customers can expect an enhanced fresh food experience, a huge focus on product quality, a much-improved range, innovative third-party services, and refreshed customer service.

Retail sales up 1.1% in August
18/10/2019 - 09:28
Measured in real terms, retail sales increased by 1.1% year-on-year in August, following a 2% jump in July, figures released on Wednesday by Statistics South Africa showed.

SA economy at risk of third-quarter contraction
11/10/2019 - 09:54
Dismal mining and manufacturing figures for August have raised the prospect of a third-quarter economic contraction.