SA maize farmers harvest bumper crop

SOUTH African maize farmers, the biggest producers of the grain on the continent, delivered 1,07million tonnes of maize to silos last week - while the main maize futures ended mixed.

SOUTH African maize farmers, the biggest producers of the grain on the continent, delivered 1,07million tonnes of maize to silos last week - while the main maize futures ended mixed.

Total maize deliveries so far this season rose to 5,84million tonnes in the week to July 10, up from 4,77million tonnes in the week before.

South Africa expects to reap about 11,6million tonnes of the staple grain during the current 2008/09 season.

While that would be lower than the 12,7million tonnes harvested in the 2007/08 season, it would still be more than annual consumption of about 9million tonnes a year.

The good harvest predictions have helped keep maize prices on the South African Futures Exchange relatively low this year, but the market has mainly taken its cue from international prices and movements in the rand currency. - Reuters

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