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The rand fell more than 2% over the week to 17.27 per dollar as Eskom's scheduled power cuts continued daily. President Ramaphosa cancelled his trip to Davos over the crisis, and the finance minister said the problem could take a year to fix.
A farmer reported losing thousands of chickens to power problems and difficulties irrigating crops.
Persistent power cuts hurt South African poultry and irrigated farm output, which can raise local feed demand and costs. A weaker rand also increases the dollar cost of imported feed ingredients.
moneyweb.co.zaAlexander Winning, ReutersJan 20, 2023Not enough comparable past events yet for a historical read.
Not 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.
