The Clap
The dairy & cheese industry is in trouble due to the foreign currency crisis & lack of production requirements. As a result, manufacturers are expecting to increase prices by a whopping 30%.
What
Companies are calling on the government to release shipments of raw materials in the ports & avail dollars so they can import the materials they need for production.
So what
The dairy industry relies on imported raw materials for more than 35% of its needs, and with the dollar in flux, manufacturers have no choice but to raise prices.
Now what
This could spell trouble for food companies on the stock exchange, as one company, Obour Land (OLFI), already had to stop producing white cheese for three days due to delays in raw material shipments.
