9. Inventories
 
   Group  Company 
    
2022 
R'000
 
2021 
R'000 
2022 
R'000
 
2021 
R'000 
Raw materials 1,065,148  761,803   –   – 
Work in progress 10,136  5,720  –  – 
Finished goods 1,183,120  793,542  –  – 
Consumable stores 114,136  91,113  –  – 
   2,372,540  1,652,178  –   – 

The cost of inventories recognised as an expense and included in cost of sales amounted to R3 401m (2021: R3 266m) which is an increase from the prior year due to higher cost of production and weaker exchange rates. No inventories were encumbered during the year.

For the year ended 31 December 2022, inventory was written down to its net realisable value due to low commodity prices at reporting date. This resulted in a loss of R1m (2021: R24m).