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Food prices are rising rapidly. The stock prices of the half-dozen diversified food producers on the JSE, on the other hand, hardly look expensive compared with some heady trading multiples earned in yesteryear.

Sentiment in the food sector was soured even further when Premier Group, which has probably been the best-performing big food company over the past five years, pulled its IPO last week after market conditions were swiped by political uncertainty stemming from the Phala Phala scandal...

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