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Economists warn of a massive rise in the petrol price

VAAL TRIANGLE - Economists have warned that the Russian invasion of Ukraine could drive the local fuel price up to R40 a litre. Agricultural Business Chamber of SA chief economist Wandile Sihlobo says in his weekly market report that a fertiliser shortage and associated high prices could affect South African farmers and, consequently, food security. He says there were concerns about the war’s effects on stocks and prices of wheat, maize and sunflower oil, of which Russia and Ukraine are major producers. In addition, Russia is important for agricultural inputs such as fertilisers and the minerals or chemicals used in them.

PHOTO: (Supplied)



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