August 21, 2015
Futures for South Africa's wheat imports highest since March 2014
South Africa's rand currency has declined to its lowest in almost 14 years, leading to futures for the country's wheat imports in December rising as much as 0.8% to ZAR4,111 (US$317) per tonne.
The increase is the highest since March 2014.
This year, wheat futures gained 2.5% after rebounding from a five-month low in April, Independent Online reported.
Meanwhile, wheat cultivations in South Africa is expected to be 478,300 hectares in 2015, the second smallest plantings on record, according to the Crop Estimates Committee.
While a key producer of wheat in the sub-Saharan region, South Africa is also a net importer of the grain.
