Prices for potatoes in South Africa have seen a big upsurge over the past year, as record highs for the produce have been reached. Last week, a bag of 10kg potatoes surged 13% and reached R97.09 due to low supply from farmers of the starch.
Senior lecturer in the field of Agricultural Economics Johnny van der Merwe said the cost of potatoes is now as much as 102% higher than this time last year: "The high demand and extremely low volumes resulted in the potato price [reaching] an official new record high price and increased by 13% to R97.09 per 10 kilogram bag. This price is 102% higher than last year [at] the same time.”
Consumers should not expect a reprieve in October as the prices for the vegetable are expected to remain elevated, he said. "This price may also stay at its high level during October but possibly start to decrease from November onwards as volumes are also likely to increase on the markets.”
The price surge has exceeded previous highs seen mid-October last year when the average market price of a bag of 10kg potatoes cost consumers R83. The current level of R97.07 is about 16% higher than last year's high.
[ R1 = €0.058 ]
Source: businessinsider.co.za
