July 27, 2005


South Africa sees surge in maize stocks following abundant harvest


South Africa's maize stocks totalled 5.07 million tonnes at the end of June compared with 3.11 million tonnes at the end of May, according to the South African Grain Information Service (SAGIS).


Meanwhile, 413,000 tonnes of maize were exported in May and June this year compared with about 90,000 tonnes during the same period the previous year.


26,000 tonnes of white maize were exported in the week to July 26, with a very big shipment to Zimbabwe.


South Africa also exported 1,670 tonnes of yellow maize to neighbouring countries. 31,718 tonnes were shipped to Japanese buyers keen to avoid US cargoes contaminated with the unapproved GM Bt-10 corn.


With South Africa's total maize crop at 12.1 million tonnes according to official estimates, and some traders expecting as much as 13 million or more, maize prices have slumped to just over 600 rand/tonne from over 1,000 rand/tonne in November 2004.

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