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...
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.