Local prices will also be impacted by exchange rate dynamics. Absa Strategy Research forecasts the following average exchange rate levels over the next 24 months.
ZAR/USD Exchange rate (Period Average)
Table 2.6
% Change
ZAR/USD
2021 2022 2023
14.78 16.37 18.19
-4.6 10.8 11.1
Forecasts
2024 2025
18.82 19.52
3.5 3.7
Source: Absa Strategy Research, 2023
Based on the above we expect the price trajectories in Table 2.7 for wheat and maize over the coming years.
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