# Standard Bank says South Africa’s agricultural sector is facing renewed financial pressure following the Reserve Bank Monetary Policy Committee’s decision to increase the repo rate by 25 basis points to seven-percent. This is amid rising inflation, higher fuel prices, and concerns over a possible El Niño. Standard Bank’s Agribusiness for Business and Commercial Banking head, Brendan Jacobs, says the agricultural sector is particularly vulnerable because fuel and energy costs are closely tied to farming operations, logistics and food distribution networks:
Standard Bank says the repo rate increase has deepened pressure on farmers and food prices [SOUND]
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