Crookes says land expropriation without compensation poses uncertainty in sugar industry
Agricultural group Crookes Brothers said on Friday that the government’s motion to expropriate land without compensation was contributing to a period of "unprecedented" instability and uncertainty in the sugar industry. MD Guy Clarke said in a video message to shareholders that the company was, however, confident that "sanity will ultimately prevail" in the matter, which has been a hot political potato. Parliament’s constitutional review committee has until August to come make recommendations on the way forward regarding the land question. The South African sugar industry generates an annual estimated average direct income of more than R12bn, according to the South African Sugar Association. This is based on revenue generated through sugar sales in the Southern African Customs Union region, as well as world market exports, The KwaZulu-Natal-based company said it was also looking to introduce an empowerment shareholder to help it accelerate its transformation agenda, skills developme...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.