South Africa will raise the benchmark price used to calculate duties on sugar imports, a move sought by domestic producers to shield the industry from cheap foreign competition. Finance Minister Enoch Godongwana signed off on the measure earlier this week. The dollar-based reference price for sugar will be increased to $785 a ton, from $680.

The new level is expected to be announced in the official Government Gazette soon. This adjustment aims to support local growers who have faced pressure from imports. Associated British Foods Plc’s local unit has been among the producers advocating for higher prices to ensure industry sustainability against cheaper foreign supplies.