Image courtesy of Exsodus / FreeDigitalPhotos.net
White maize for December 2012 delivery‚ the most active contract‚ has risen 17.78% in the current season (which began on May 1) to R2‚544 per ton from the previous period and yellow maize for December delivery‚ climbed 21.13% to R2‚568 per ton over the same period.
"(South African) farmers are looking for additional land to plant maize due to attractive prices. There is strong demand for the grain from overseas and for local food and feed consumption‚" said Piet Fourie‚ a trader at CJS Securities.
"Free State planted less wheat early this year. That land could be used for summer crops‚ split between maize‚ sunflower and soybeans‚ depending on crop rotation."
Maize is used as an input in a large amount of food production. The current area planted sits at 2.699 million hectares.
Sunflower for December delivery has gained 35.81% this season to R5‚935 per ton and soybeans surged 54.47% to R5‚700 per ton.
"SA is a net importer of oil and soya cake‚ which is used in the intensive livestock industry. International prices have risen steadily over the last few months‚" said Marthinus Loock‚ senior manager: agribusiness support at Standard Bank.
International grain prices have been driven higher for the most part this year by the worst US drought in more than 50 years. The US is the world's biggest producer and exporter of maize.
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