Higher prices boost SA's maize plantings
FMCG SUPPLIER NEWS
Fin24 - Jan 25th, 15:33
Johannesburg - South African farmers have planted 11% more acreage this season compared to last year because of higher prices while wheat output is seen higher than previously expected, a government agency said on Tuesday.
South Africa’s Crop Estimates Committee (CEC) said the preliminary area cultivated under maize for the 2012 season was at 2.63 milion hectares, compared with 2.37 million hectares in the previous season.
The area included 1.59 million hectares of white maize and 1.04 milllion hectares of yellow maize.
“(The higher plantings) is because of favourable producer prices,” said CEC spokesperson Marda Scheepers.
South Africa’s maize prices are roughly double their levels of a year ago.
The most active March white maize contract ended down 0.07% on Tuesday at R2 686 per tonne, but remains near its record highs.
Yellow maize for delivery in the same month was steady at R2 720.20/tonne. It had hit a record high of R2 764/tonne during the session.
South Africa, the biggest producer of maize on the continent, harvested 10.36 million tonnes of maize in the 2010/11 season. But the country is now importing maize to make up for deficits due to export commitments.
South African maize prices are around record highs as stocks remain tight until the next marketing season starts in May.
The committee raised its 2011 wheat crop estimate to 1.85 million tonnes from 1.773 million tonnes, citing better-than-expected yields.
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