maize price forecast south africa

Maize (corn), U.S. No. Roughly 75% of maize produced in a season is consumed by our own local market. This can be in the form of maize based food products for humans as well as animal feed. The page will always show prices from the latest session of the market. South Africa will likely harvest 15.545 million tonnes of maize in 2020, slightly higher than the previous months estimate, after favourable weather conditions and higher yields in the Free State and Gauteng provinces, the government’s Crop Estimates Committee (CEC) said on Wednesday. 2 Yellow, FOB Gulf of Mexico, U.S. price, US$ per metric ton Price in US$ per bushel: 3.82 As of: Friday, August 21, 2020 The South Africa grain market is projected to register a CAGR of 5.91% during the forecast period of 2020-2025. Grains contribute significantly to the agricultural sector in South Africa. Market Forecast 2019-2025 in Africa Driven by increasing demand for maize in Africa, the market is expected to continue an upward consumption trend over the next seven years. This is particularly the case with South Africa’s staple white maize prices, which on 23 March 2020 reached the highest levels last seen in 2016, … On 10 November 2020, the Australian Bureau of Meteorology reaffirmed its forecast of a La Niña occurrence from this year until at least February 2021. Maize is the most prominent field crop in the country. By Tumelo Modiba, Reuters 23 Oct 2020 12:29 Factors influencing maize markets in South Africa The main factor above all others which determines the price of maize in each season is supply and demand. ... ($138.70) a tonne after the government Crop Estimates Committee forecast a … Once the markets have closed, the Last Price will show an 's' after the price, indicating the price has settled for the day. JOHANNESBURG, Sept 22 (Reuters) - South Africa's 2020 maize output is likely to be lower than previously expected due to the impact of late rains on the quality of the crop, according to a Reuters survey of estimates from five analysts and traders.The Crop Estimates Committee (CEC) is expected to forecast 2019/2020 maize production at 15.271 million tonnes, down 1.71% from the … South Africa expected to sow 8.3% more maize hectares in 2020/2021 – survey Boosted by above normal rainfall and higher maize prices. Therefore, there is little concern at this stage in terms of maize supplies as the country is expected to harvest more than 16 million tons of maize … Overnight (Globex) prices are shown on the page through to 7pm CST, after which time it will list only trading activity for the next day. South Africa maize prices tumble, inflation outlook improves. For South Africa, La Niña tends to bring higher-than-average rainfall, as we have stated previously. While this weather phenomenon presents prospects of higher rainfall and a potentially good agricultural season in South Africa, other regions of the world could experience the opposite. Influence of rising commodity prices in SA.

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