South Africa increases wheat import duty by 34pc

JOHANNESBURG: South Africa's finance ministry said on Friday it had approved a 34 percent increase in the tariff on wheat imports to 1,224.31 rand per tonne from 911.20 rand per tonne.

"The Ministry of Finance is particularly concerned about the impact of the higher import duty on wheat on the price of bread and other staple food, but also mindful of the need to ensure policy certainty, food security and the financial health of the farming industry," it said in a statement.