The Crop Estimates Committee’s fourth projection for the 2024 summer season slightly lowers the outlook from its third estimate due to El Niño-induced heat waves. White corn production has decreased by 25.4% from last season, totaling just over 6.43 million tons, and the overall harvest is down 19% to 13.3 million tons. Despite this, South Africa is expected to have sufficient white maize to meet domestic demand, crucial for lower-income households. Wandile Sihlobo, Agricultural Business Chamber’s chief economist, noted that South Africa’s maize supply would surpass national consumption needs, leaving over a million tons available for export. While corn futures prices have stabilized, white corn prices have increased 30% year-on-year, with yellow corn prices up 7%. Compared to its regional neighbors facing severe drought, South Africa’s commercialized agriculture has fared better. Zimbabwe, Zambia, and Malawi are experiencing significant food shortages. The current El Niño is waning, with La Niña expected to bring better rainfall soon.
Original Source: Daily Maverick
Date: 2024-05-28 17:41:54
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