Russia-Ukraine war could see further disruptions to SA's supply chain
The ongoing war between Russia and Ukraine could spell further disruptions to the supply chain sector in South Africa.
That's the analysis of FNB's CEO Jacques Celliers, who was speaking to Newswatch in Umhlanga on Thursday.
The immediate effects we've seen so far include a spike in the cost of fuel and the panic-buying of items such as cooking oil.
Experts are warning that the price of cooking oil could skyrocket over the next few months.
READ: WATCH: Russia strikes near Lviv airport as bombardment expands across Ukraine
Celliers says it's likely we will feel the effects of the European war for some time, especially within certain sectors.
"It's still going to be a little bit of time before we really have certainty of the impacts. Different sectors are responding differently and supply chains is an uncertainty.
"We are in KZN, you know how difficult the supply chain disruptions have been with just Covid and now top if that you have Russia. So there is some impacts on markets. There might be pockets where it's going to be very tough for people."
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