{"id":756323,"date":"2024-03-01T08:50:00","date_gmt":"2024-03-01T06:50:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=756323"},"modified":"2024-03-01T09:07:22","modified_gmt":"2024-03-01T07:07:22","slug":"good-news-for-meat-lovers-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/756323\/good-news-for-meat-lovers-in-south-africa\/","title":{"rendered":"Good news for meat lovers in South Africa"},"content":{"rendered":"\n<p>Producer price inflation (PPI) has grown, but there are positive signs for food prices, especially meat prices, in South Africa. <\/p>\n\n\n\n<p>According to the latest data from Stats SA, PPI increased from 4.0% in December 2023 to 4.7% in January 2024 &#8211; broadly in line with expectations. PPI increased by 0.1% month-on-month.   <\/p>\n\n\n\n<p>The main contributors to the headline PPI annual inflation rate were: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Food products, beverages and tobacco products (increased by 4.0% year-on-year and contributed 1.2 percentage points);<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Metals, machinery, equipment and computing equipment (increased by 5.8% year-on-year and contributed 0.8 of a percentage point); <\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Coke, petroleum, chemical, rubber and plastic products (increased by 2.7% year-on-year and contributed 0.7 of a percentage point); and <\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Transport equipment (increased by 7.3% year-on-year and contributed 0.6 of a percentage point) <\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/02\/image-119.png\"><img loading=\"lazy\" decoding=\"async\" width=\"654\" height=\"383\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/02\/image-119.png\" alt=\"\" class=\"wp-image-756327\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/02\/image-119.png 654w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/02\/image-119-300x176.png 300w\" sizes=\"auto, (max-width: 654px) 100vw, 654px\" \/><\/a><figcaption class=\"wp-element-caption\">Source: Stats SA<\/figcaption><\/figure><\/div>\n\n\n<p>Although the food products, beverages and tobacco products category increased, manufactured food price inflation decelerated from 4.7% in December to 3.6% in January. <\/p>\n\n\n\n<p>Investec economist Lara Hodes said that when breaking down the food basket, <strong>meat and meat products inflation dropped from 4.1% in December to 2.0%. <\/strong><\/p>\n\n\n\n<p>The supply of meat has been a critical upside risk to food inflation over the last few months, but this has recovered since the widespread avian influenza (bird flu) outbreak in 2023. <\/p>\n\n\n\n<p>Agbiz Chief Economist Wandile Sihlobo said that the recovery in poultry production follows interventions from both the industry and government at the end of last year. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-businesstech wp-block-embed-businesstech\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"2ucGrQIG5r\"><a href=\"https:\/\/businesstech.co.za\/news\/business\/747026\/no-shortage-of-chickens-in-south-africa\/\">No shortage of chickens in South Africa<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;No shortage of chickens in South Africa&#8221; &#8212; BusinessTech\" src=\"https:\/\/businesstech.co.za\/news\/business\/747026\/no-shortage-of-chickens-in-south-africa\/embed\/#?secret=v6ptVSuiXk#?secret=2ucGrQIG5r\" data-secret=\"2ucGrQIG5r\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Grain mill products, starches and starch products, and animal feeds also dropped further from -3.1% to -4.4%, supported by a contraction in inflation of specifically starches, starch products and animal feeds.<\/p>\n\n\n\n<p>Oil and fat prices dropped by 17.2% in January, supported by the 12.8% decline in the Food and Agriculture Organization of the United Nations\u2019 vegetable oil price index. <\/p>\n\n\n\n<p>Fruit and vegetable price inflation may have increased from 10.8% to 11.8%, but Agbiz said that prices will likely slow in the coming months as product volumes increase in various Fresh Produce Markets.  <\/p>\n\n\n\n<p>\u201cUnlike field crops, the horticulture industry is under irrigation and thus benefits from improved dam levels in the current dry spell and high temperatures in various regions,&#8221; said Sihlobo. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/businesstech.co.za\/news\/government\/756161\/name-change-for-popular-tourist-town-in-south-africa-hits-resistance-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">Name change for popular tourist town in South Africa hits resistance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Interventions from government and industry have led to good news for food prices in South Africa. <\/p>\n","protected":false},"author":95,"featured_media":700739,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[18155,26,1498,1809],"class_list":["post-756323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-agbiz","tag-headline","tag-investec","tag-stats-sa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/756323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=756323"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/756323\/revisions"}],"predecessor-version":[{"id":756549,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/756323\/revisions\/756549"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/700739"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=756323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=756323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=756323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}