Food prices are expected to drop due to recent heavy rains.
Due to drought, food inflation rose to 11.6% and the Reserve Bank had predicted it could go as high as 12.3%.
Christo Joubert, Agricultural Economist, at the National Agricultural Marketing Council, says we might start seeing a relief in maize prices 3-4 months from now when the new crops come in.
Maize price is still high at this stage and we still have to import some maize from the shortfall we are currently experiencing. I think we can start seeing a relief after June/July.— Christo Joubert, Agricultural Economist, National Agricultural Marketing Council
However, meat prices will still remain high, says Joubert.
To hear more on food prices, listen below:
This article first appeared on CapeTalk : Food price drop likely due to heavy rains (but meat prices will remain high)