What to expect from meat prices in South Africa heading to December

Meat prices in South Africa have been driving food inflation in 2022, with a mix of local and international factors playing a role. According to the Bureau for Food and Agricultural Policy (BFAP), meat prices in the country are expected to remain elevated leading into the end of the year, largely thanks to the weaker rand. “As one considers how prices might evolve over the rest of the year, the management of disease outbreaks will be a major determinant, along with seasonal demand dynamics, feed price trends and the evolution of the Rand exchange rate,” it said. “Global prices seem to have peaked, but domestic prices continue to rise as continued depreciation in the exchange rate has more than offset international declines in recent months.” In an analysis of meat price trends over 2022, the BFAP showed that local prices had tracked the UN’s Food and Agriculture Organization food price index, lagging by a few months. The FAO meat price index – a combined measure of meat prices ...