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Business

Drought threatens lucrative game industry

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Opening sequence

Business

Drought threatens lucrative game industry

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COMING UP:Drought threatens lucrative game industry

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Transcript

00:00:00
>> South Africa's lucrative game ranching business is in trouble. After years of dry weather, much of the country's farmland is parched. The game industry seen annual growth of 20% over the past decade. But now, ranchers who breed antelope and buffalo for the tourist market are seeing their profits slump.
00:00:20
They have to provide the animals with costly feed to make up for the lack of vegetation to graze on. Reuters's reporter Ed Stoddard says owner's of particularly valuable animals are desperate to keep them alive and well fed.>> The animals behind me are stable antelope. They are highly prized in the game industry and the one very big black bull, who's behind me has been valued at 19 million Rand or around $1.3 million.
00:00:49
>> Thanks to the game ranching business, South Africa's seen a boost in the number of wild animals in the country. But that success is now under threat unless the weather improves.>> The farmers are hopeful that rains are on the way. I see rainss off to the south and you can almost smell rain in the air so we're hoping that this drought which has actually affected this area here for the past three or four years may soon break.
00:01:14
>> Rains have returned to some parts of South Africa, but for most of the country, forecasters say it's likely to be another dry summer.