More people starving as input costs rise
At the beginning of May, the Department of Mineral Resources and Energy announced another increase in the price of diesel. This is the third consecutive month in which diesel prices have increased, and if you live inland, you can now expect to pay over R23/£. This is particularly bad news for winter-crop producers, who are currently planting. There is little comfort in the fact that this is not an experience unique to South Africa. Indeed, diesel prices around the world have been climbing on the back of increased demand and limited supply, largely due to sanctions imposed on Russia as a result of that country’s invasion of Ukraine. Moreover, analysts predict that the run in the diesel price is likely only just beginning, and that prices will continue to increase over…