Maize output estimate expected to tick up-traders - Moneyweb 2018/06/22, 13*40

South Africa

Maize output estimate expected to

tick up-traders EDITOR'

Maize harvest for 2018 is secured at 12.991 million, survey shows.

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Nomvelo Chalumbira, Reuters / 20 June 2018 12:49 ! No comments so far
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The domestic consumption of maize is around 10 to 10.5 million tonnes. Picture: Shutterstock

South Africa‘s 2018 maize harvest is pegged at 12.991 million, just above the
government’s previous estimate, as favourable weather continues as harvests begin, a
survey of traders and industry watchers showed on Wednesday.
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Maize output estimate expected to tick up-traders - Moneyweb 2018/06/22, 13*40

survey of traders and industry watchers showed on Wednesday.

The government’s Crop Estimates Committee (CEC), which will provide its fifth 2018
production forecast crop next Wednesday, is expected lift its estimate 0.6% from the
12.909 million tonnes it forecast in May.

“South African maize farmers are expected to harvest in ‘full swing’ the next couple of
weeks,” said Grain Option Market trader Warren Langridge.
)
Traders expect the harvest to consist of 6.768 million tonnes white maize, the staple
1food, and 6.223 million tonnes of yellow maize, used mainly in animal feed.
SHARES

“With these estimates, what this means is that South Africa could be well supplied in
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this year, if we take into consideration the stocks of last year, it gives you total supplies
of somewhere around 16.4 million tonnes,” said Agricultural Economist Wandile
$
Sihlobo.
%
Domestic consumption is around 10 to 10.5 million tonnes.

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In 2017, a record 16.82 million tonnes was harvested after favourable weather
conditions boosted yields, exceeding the previous record of 14.656 million tonnes in
'
1981.

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Maize prices have remained depressed with the white maize contract ending July
down 61 percent to 2 072 rand by 09:14 GMT from the record highs it reached in
(
January 2016 of 5 376 after a severe drought impacted yields.

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∠ Restr
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