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...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.