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SA to harvest second biggest maize crop on record

Farmers are likely to harvest an estimated 14.53-million tonnes of maize in 2017, the second-biggest maize crop on record. The biggest crop was in the 1981/82 season when farmers harvested 14.65-million tonnes.

By Andries Mahlangu

26 Apr 2017

stux via pixabay

In its third production estimate report for the year, the Crop Estimates Committee said on Tuesday it had revised the maize output estimate 1.48% higher against the previous estimate.

Favourable weather conditions have enabled producers to increase the area planted to summer crops, with maize output now expected to be 87% higher in 2017 than in 2016.

The expectation of bumper yields has already led to a significant drop in grain prices in recent months, which are expected to translate into even lower food inflation in the months ahead.

Food inflation moderated to 8.7% in March, according to Statistics SA data, from 10% in February.

The white maize futures contracts for July delivery settled at R1,836 per tonne on the JSE's commodity derivatives market on Tuesday, which is down considerably from R5,000 per tonne a little more than a year ago.

Source: BDpro

Source: I-Net Bridge

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