• Voter paralysis

    With so much tilting voters against change, democratic reason is the loser, says Solly Moeng.

  • The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

All data is delayed
Loading...
See More

SA may still need to import maize

Jan 29 2016 21:00
Tshepiso Mokhema

Johannesburg - BVG says South Africa's white maize increased by its extended daily limit in Johannesburg as concern persists that the country still  requires imports to meet local demand despite recent rains easing the effects of the worst drought in memory.

White maize for delivery in July rose 2.5% to R5 016 a metric ton by midday on the South African Futures Exchange, gaining most since January 15. It has climbed 7.6% in January, a third straight month of increases. Yellow corn for the same delivery month advanced 0.5 percent to 3,526 rand a ton.

While local growers will probably produce 7.44 million tons of both varieties of the grain in the season ending in April, according to the Crop Estimates Committee, the nation may still need to import about 3 million tons of the grain for local supply, said Grain SA. In 2015, the country suffered the lowest rainfall since records began because of the global El Nino weather pattern.

“South Africa still needs to import a lot of maize and this estimate can still change a lot due to weather and also as more accurate information becomes available, said Brink van Wyk, a trader at BVG. “Buyers are aware of this.”

Towns in the Free State produced about 40% of last year’s harvest.


Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

johannesburg  |  maize  |  sa economy  |  drought

 
 
 
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote

Loading...