Bitter season for South African sugar growers

Charl Senekal is the biggest private sugar producer in South Africa. He says the newly announced sugar tax on beverages is not the biggest threat to the industry.

Minister of Finance Pravin Gordhan announced the 20% tax on sweetened sugar drinks during the 2016 Budget Speech. While Senekal says that could drive down the consumption of sugar, drought is a more pressing concern.

By some accounts the sugar harvest in South Africa will be down over 20% from last year and stock is being imported from countries such as Brazil. Senekal says the smaller producers are most vulnerable and could go under because of the poor weather.


Source: News24
Tue 1 Mar 2016 at 07:30