This is an excerpt from the recent address by president and CEO of Toyota South Africa - Dr Johan van Zyl.

"The increase in the price of oil has had a direct impact on production costs in the global agricultural sector. A secondary impact has been the redirection of agricultural resources and products to the production of bio-fuels as a substitute for crude oil based fuels.

The result is significant upward pressure on global food prices, not just at the supermarket check out counter in our diverse shopping baskets, but more alarmingly amongst the three main staple foods of maize, wheat and rice. The price of rice has increased by 219% over the period, wheat is up by 145%, and maize by 53%."

Read the full article from Toyota's newsroom.