South Africa, the largest corn producer on the continent, will probably reap the smallest harvest since 2007 this year after the country suffered the lowest rainfall since records began because of the global El Nino weather pattern.
Fanie Brink says the current drought could end up worse than what was experienced in 1991/92 and an IMF/World Bank intervention is needed.
SA will import about 50,000 tonnes of white maize from Mexico in a bid to bulk up waning stocks.
Zambia plans to sell as much as a third of its record corn crop as drought and floods in neighboring nations decimate harvests of the grain used as a staple food.
The poorer harvest, which would be the smallest crop since 2007, could have implications for food prices and inflation as maize is SA’s staple crop.
South Africa, the continent’s biggest corn producer, may plant 3.3 percent less of the grain in the 2014-15 season than a year earlier as prices drop, a survey showed
By MAGGIE HYDE Associated Press Egypt will try to save half the money it spends on wheat subsidies by issuing a new smart card system to ensure that the cheap bread goes to only the neediest. Egypt is the world’s largest importer of wheat and the country’s supply is subject to price changes on the … Read more