Govt says drought causes $1B loss in agriculture sector

South Africa's agriculture sector has incurred losses of 16 billion rand ($1 bln) due to a severe drought, a government statement said on Tuesday.

"We, however, have to contend with drought, which has resulted in losses worth 16 billion rand across the sector," statement said.

South Africa's diverse agricultural sector, from grains to livestock, has been hard hit by a scorching drought which has been exacerbated by a powerful El Nino weather pattern.

($1 = 15.3259 rand)