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South Africa's rand weakened as investor confidence eroded under rolling blackouts from Eskom, the state utility. Investec's Annabel Bishop cut her 2023 growth forecast to around 0.6% from 1.1%, citing the power crisis and Transnet's weakening rail and port performance.
She also flagged Eskom's costly diesel use for open-cycle gas turbines.
A weaker rand raises the dollar cost of imported feed ingredients and inputs for South African feed buyers. Persistent power cuts also disrupt processing and farm operations, adding cost pressure.
businesstech.co.zaJan 31, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
