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Victor Watson Karoo Wild Safaris Email: info@karoowildsafaris.co.za Cell: (+27) 721894588 www.karoowildsafaris.co.za | |||
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It looks like the latest slide was due to the firing of SA's Finance Minister.: http://www.bbc.com/news/world-africa-35059563 The decision by South Africa President Jacob Zuma to sack the finance minister has been widely criticised. South Africa's currency fell close to a record low against the dollar on Thursday morning as the markets were digesting the news. BBC Africa business reporter Lerato Mbele says that Nhalnhla Nene's attempt to rein in spending may have unsettled some people loyal to the president. The sacking comes as South Africa's economy is struggling to grow. President Zuma said Mr Nene was being moved to "another strategic position", but did not elaborate on the reasons behind the decision. He has replaced him with the relatively unknown David van Rooyen. The rand fell to below 15 to the dollar on Thursday morning and stock prices also fell in Johannesburg as trading began, Reuters reports. Frank "I don't know what there is about buffalo that frightens me so.....He looks like he hates you personally. He looks like you owe him money." - Robert Ruark, Horn of the Hunter, 1953 NRA Life, SAF Life, CRPA Life, DRSS lite | |||
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And Van Rooyen has also been axed in the meantime - he can at least claim the shortest term in a Ministerial position  | |||
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Probably just long enough to sign off on all of Zuma's dodgy projects such as nuclear power stations & private jet. That way no-one holding the post can be blamed!  | |||
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Janet finally raises the Fed Rate 25 basis points. Expect the dollar to continue to strengthen in the coming weeks/months. ___________________ Just Remember, We ALL Told You So. | |||
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With a little help from the Fed.http://www.reuters.com/article/safrica-markets-idUSL8N1460LV20151217
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Reports are coming in that Barclays bank are looking to pull out of South Africa, that will mean a downgrade in rating and further slip in the exchange rate. Listen to our Podcast - Round The Fire With Kingsview Safaris info@kingsviewsafaris.co.za www.kingsviewsafaris.co.za HC50/2015EC | |||
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The trick is to invest/make purchases before inflation sets in. Looks like it's going to be a narrow window at this pace... ___________________ Just Remember, We ALL Told You So. | |||
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Dollar to Rand today - 1 : 16.097... ___________________ Just Remember, We ALL Told You So. | |||
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It has lost about .75 Rand to the dollar this past week. 16 to 1 is about double the average rate since I started going to Africa in 2002. This might give outfitters some more leeway at Dallas right now since the price of oil has also fallen to below $35 a barrel. I know that has got to make selling hunts in Dallas a lot more difficult. STAY IN THE FIGHT! | |||
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16.1965 Rand to One dollar today. At this pace it should be 17 to 1 by the SCI Vegas convention. Updated to close of the day at 16.32 to 1. 16.94 Jan. 11, 2016. STAY IN THE FIGHT! | |||
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Sorry to bump an old post but I just stumbled across some interesting information. I always hear that SA hunting prices don't go down with the exchange rate because costs for supplies like petrol go up with the stronger dollar. Here's a chart of Petrol and Diesel retail prices in South Africa over the last few years: Year....Unleaded 93.....Diesel 0.05% 2013....R13.32..........R12.48 2014....R14.08..........R12.84 2015....R13.01..........R10.94 2016....R12.08..........R10.96 Outfitters are getting about 30% more Rand to the dollar in the last few years but the cost of fuel has gone down about 12%. Frank "I don't know what there is about buffalo that frightens me so.....He looks like he hates you personally. He looks like you owe him money." - Robert Ruark, Horn of the Hunter, 1953 NRA Life, SAF Life, CRPA Life, DRSS lite | |||
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Interesting.  | |||
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If you compared the price per barrel of oil across those years it wouldn't be such a mystery. Victor Watson Karoo Wild Safaris Email: info@karoowildsafaris.co.za Cell: (+27) 721894588 www.karoowildsafaris.co.za | |||
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Oil and subsequently Gas/Diesel are obviously both global and tied to Oil prices... The Dollar is very strong right now. Over 14-1 on the Rand and also 1.06 to the Euro What really has become a much better deal recently are Euro based prices like Burkina Faso or Benin etc. But South Africa? I would think much of the costs such as Animals themselves, labor, lodging, food, local beer/spirits are all tied to the Rand Only certain imports are tied to the dollar (which are many) So one would still expect prices to move more closely to the dollar per Rand and they don't which seems a bit odd to most So....why didn't prices in places like South Africa drop like the Euro based areas?? | |||
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Because they charge in dollars and not Rand. With the Euro down significantly, the prices for those who exchange dollars for euros get better deals than when the exchange was much higher. | |||
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Sure, I understand that...that's a given.... The point is both should rise and/or fall relatively equally in what we pay in dollars...because the underlying product (safaris in both areas should have the same rise or fall in cost of goods sold) Thus...are people pricing (charging) in dollars not pricing relatively higher because of the audience (Americans) and are the "deals" in some of these areas not proof? Is the dramatic increase in the value of the dollar not proof? Or...are the underlying cost pressures of the game breeding craze impacting farmers cost? Someone in the supply chain is making greater margin by a good bit with this currency change it would seem..not sure who.... My first safari about 14 years ago was about half the cost of today...the dollar was about 8 or 9 to 1 at the time Costs have compounded significantly in the last 10-15 years (way more than standard inflation) and the dollar has nearly doubled in strength over the same period of time. | |||
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From what I have heard, the landowners and game owners are taking a much larger share of the pie than they were 15-20 years ago. I think that once they started to realize the markup on the retail prices/trophy fees they demanded more and in dollars too. The market usually corrects this but it seems to have limited impact so far. This is the way I see it in RSA. I think government fees have really pushed up the costs in some other countries. I have been focusing on Europe recently and the costs are great. Still, there is nothing like Africa! | |||
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I've followed this thread from the beginning and have wondered what factors I am missing. You mention above "standard inflation" and I wonder what that is - in relation to SA Inflation recent and average of +/- 6% per year and the SA Food component of +/- double that. Game prices - auction or on the land, both have increased significantly as you note. And in spite of that the outfitter I hunt with in the Eastern Cape was asking $3250 at the 2016 shows compared to the same hunt at the 2012 shows at $4995. And those 2016 prices were not the lowest at the shows at all. It appears that many of the SA outfitters have been quite willing to share a portion of the exchange rate "windfall", all while retaining all the "exchange rate risk" to themselves. Les | |||
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I agree with both of the above.... Especially this coming season seems to have gotten far more competitive. I myself got a "too good to pass up" deal with an old friend on a plains game hunt last year and some operator friends have told me the land owners are hitting them much harder in certain places Just look at L David Keith's recent post or Tholo etc....great deals are coming back. Not to beat a dead horse, but significant costs seem to have shifted in some areas to dip and crate etc. too... | |||
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