Mining Writer
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South African wheat farmers could be among those hit hardest by the war in Iran, forcing farmers to cut back on production as low commodity prices make the sector particularly vulnerable to inflation, warned KAL Group.
The JSE-listed agricultural investor, owner of Agrimark, said in its latest interim results that wheat growers were already weighing cuts to planted hectares for the coming season as they brace for a painful margin squeeze from surging fuel and fertiliser costs.
“Fuel availability was severely constrained in March. Fuel demand increased exponentially, as both agricultural and general consumers increased fuel purchases in anticipation of potential fuel shortages and the large April fuel price increases,” said the group.
