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SA’s maize forecast seen slightly up

Johannesburg - South Africa will likely slightly raise its maize output forecast for this year after good weather during planting boosted yields, a Reuters survey showed on Monday.

An average estimate of four trading houses polled by Reuters show that the government's Crop Estimates Committee (CEC) may raise the forecast to 13.58 million tonnes from a previous estimates of 13.548 million tonnes.

File image: Reuters. Credit: REUTERS

The forecasts ranged between 13.548 million tonnes and 13.65 million tonnes.

Maize is the staple crop in South Africa.

The CEC said in March that a harvest of 13 million tonnes or above will be the largest in more than three decades.

South Africa harvested 14.4 million tonnes in 1981.

Expectations of a bumper crop have pulled maize prices back from record highs of more than 3,300 rand a tonne hit earlier this year.

The most traded July white maize contract ended 0.22 percent higher at 1,851 rand a tonne on Monday. - Reuters

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