BOTHAVILLE, South Africa, March 7 (Reuters) – South
African maize exports this market season, which ends April 30,
could reach 2 million tonnes, similar to last season’s figure,
producer body Grain SA said on Wednesday in its annual report.
Export commitments for Africa’s biggest maize producer have
also forced the regional breadbasket to import some maize,
keeping local futures prices high and pressuring domestic food
inflation.
“Expectations are that exports this season can reach 2
million tonnes (1.24 million tonnes of white maize and 760,000
tonnes of yellow maize) if the export rate can be maintained,”
the report said.
“South Africa is positioned to serve the white maize market
in Africa, but also to provide countries in the east like China
and Korea with yellow maize. Deep-sea exports will be maintained
as long as international prices and favourable exchange rate
ratios can be maintained,” it said.
Grain SA said South Africa exported 2.06 million tonnes of
maize last season.
The government’s Crop Estimates Committee last month
forecast South Africa would harvest 11.7 million tonnes in the
current 2011/12 production season, compared with 10.36 million
tonnes in the last one.
Local maize prices are off recently scaled historic peaks
but remain high.
The most active July white maize contract ended 1.75
percent higher on Wednesday at 2,153 rand ($280) a tonne, while
yellow maize for delivery in the same month ended 1.32
percent up at 2,119.60 rand a tonne.
($1=7.6466 South African rand)
(Reporting by Olivia Kumwenda, writing by Ed Stoddard; Editing
by Mike Nesbit)
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