Advertise with fastmoving.co.za
 
 

Farmers are likely to harvest a smaller maize crop in 2018, thanks to lower grain prices that came as a result of a bumper harvest in 2017.
Farmers are likely to harvest a smaller maize crop in 2018, thanks to lower grain prices that came as a result of a bumper harvest in 2017.

Maize harvest forecast to drop 27% in 2018

ECONOMIC NEWS

By Andries Mahlangu - Feb 28th 2018, 13:32

Farmers are likely to harvest a smaller maize crop in 2018, thanks to lower grain prices that came as a result of a bumper harvest in 2017. 

In its first production estimate report for 2018, the crop estimates committee said on Tuesday that producers would harvest about 12.2-million tonnes of maize in 2018, which represents a 27% decrease from the season just passed.

The area planted with maize also dropped 12.4% to 2.3-million hectares, according to preliminary estimates.

In 2017, farmers harvested a record 16.8-million tonnes, an outcome that helped drive food prices significantly lower, helped by a much stronger rand.

Food inflation moderated to an annual rate of 4.6% in January, from 4.9% in December, reflecting lower grain prices.

The production estimate for sunflower is likely to drop 16.3% to 731,505 tonnes, while that of soybean will increase 4.5% to 1.37-million tonnes.

Meanwhile, the expected commercial production of wheat for 2017 was finalised at 1.5-million tonnes, which was 3.34% more than the previous estimate.

© BusinessLIVE MMXVIII 

Read more about: sa economy | markets | maize | exports | agribusiness

Related News

Key insights into the global banana market
16/09/2019 - 14:45
The global banana market revenue amounted to $58.5B in 2017, therefore, remained relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).

4 reasons to be hopeful about South Africa’s economy
12/09/2019 - 14:40
Markets responded positively to South Africa’s economic growth rebounding in the second quarter, up 3.1%, and 0.9% for the year to June 2019.

Insights into the global avocado market
11/09/2019 - 14:03
The global avocado market revenue amounted to $13.5B in 2018, reducing by -9.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).

Smarter mobility key to a sustainable South Africa
11/09/2019 - 13:19
The World Economic Forum has revealed that by 2050, 70% of the world’s population will be living and operating in urban areas. Considering the resultant congestion and air pollution, which are already challenges requiring mitigation in 2019, mobility and energy should be top of mind for those making the shift towards cities of the future.

Manufacturing production shrinks for second month in July
11/09/2019 - 13:01
Manufacturing production recorded its second consecutive contraction in July, in line with analysts’ expectations.