A reduction in the prices of fuel is a relief to South African growers, who have their planting scheduled in about a week’s time; planting of summer crops will begin in the eastern producing areas of the country.
The Department of Energy made a downward adjustment to fuel prices, referring to a decrease of 8,8 percent in international crude oil prices, coupled with a 3,2 percent strengthening of the rand exchange rate.
The weather outlook is even more promising, with a La Nina in the offing. (La Nina is a pattern characterised by above-normal rainfall for the Southern Africa region.)
Paul Makube, Senior Agricultural Economist at FNB: “The drop in fuel prices comes at the right time and coupled with the above-mentioned factors will afford farmers an opportunity to expand their operations in the 2020/21 crop season.”
Cajnewsafrica.com reports on the fuel prices, telling us that petrol now costs between R14,06/litre and R14,86/l. Diesel is between R12,38/l and R12,39/l.
[ R1 = € 0,051 ]