Crookes Brothers sees big hike in costs due to the war in Ukraine
Fears of a global recession and inflation are pushing up food prices
30 June 2022 - 22:17
Agricultural group Crookes Brothers estimates the war in Ukraine will up its agricultural costs by almost two-thirds amid a surge in fertiliser, chemical and energy prices.
The company, which produces sugar, bananas, apples and macadamia nuts, did not declare a dividend for its 2022 year when it released its annual results on Thursday as it estimated the ongoing conflict will increase its agricultural costs by R58.2m in its 2023 financial year...
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