Steep jump in petrol price from Wednesday

Cape Town – The price of petrol will increase by 67c a litre from next Wednesday, while the price of diesel will be 44c a litre more, the Department of Energy said on Sunday. Energy Minister Mamoloko Kubayi said the rand/US dollar exchange rate and the prices of petroleum products in the international markets are the main contributing factors for the September price hike. “The Rand depreciated, on average, against the US dollar during the period under review.” In addition, there was an increase in the crude oil prices coupled with a weaker rand, massive floods caused by the storm […]

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Largest white maize shipment from Mexico arrives

Yesterday saw the arrival in South Africa of the largest shipment of white maize for the season from Mexico, report online sources. “We have received 56 019 tonnes of white maize from Mexico, the largest shipment for the 2016/17 marketing season so far,” said Agricultural Business Chamber senior agricultural economist Wandile Sihlobo, quoted by Bloomberg. “The shipment would go a long way to helping South Africa meet its demand for white maize,” he said. The marketing season started at the beginning of April this year and will end on April 30 next year, according to the online news provider. White […]

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Wheat import tariffs raised 

The ministry of finance has approved a 34% import tariff increase on wheat imports to R1 224.31 per tonne from R911.20 per tonne. The National Treasury granted Grain SA’s request but, in a statement, expressed concern about the effect of the automatic tariff formula on the price of bread and other staple food. A spokesperson said therefore that Treasury had asked trade and industry minister, Dr Rob Davies, to institute an urgent review of the increase. The controversial request by Grain SA has met with some opposition. The National Chamber of Milling (NCM) executive director, Boikanyo Mokgatle, said recently: “Why […]

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Cost increases set to delay new truck acquisitions .

A 30c/l increase in the fuel levy, another rise in interest rates and new consignor/consignee legislation will all load more costs onto a transport industry that is already struggling to remain profitable, says Standard Bank business vehicle and asset finance head Toni Fritz. Operators competing for market share in an environment dominated by shrinking profit margins will respond in various ways to the increased costs created by these major changes, she notes. Small and large operators who will normally consider buying new trucks, will now probably lengthen their replacement cycles to avoid the higher costs of replacing vehicles. However, this […]

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