INDUSTRY fears that a poor agricultural harvest will put even more pressure on the country’s scant foreign currency resources, leading to higher costs of doing business and more price increases.
This comes as a prolonged dry spell has resulted in moisture stress in crops, heightening concerns that the country will not be able to meet its agriculture production targets this year — amid growing business anxiety over the Russia-Ukraine conflict, which has resulted in a surge in fuel prices.
According to the government’s latest assessment of crops and livestock for the 2021/2022 season, there has been a worrying general decrease in hectarage for planted crops.
Subscribe to The Financial Gazette
This is premium content. Subscribe to read article.