South Africa's corn crop estimate to increase by 0.3%

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Publish time: 22nd April, 2014      Source: www.cnchemicals.com
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April 22, 2014

   

   

South Africa''s corn crop estimate to increase by 0.3%

   

   

   

South Africa will raise its estimate for production of the grain this season by 0.3%, a survey showed.

   

   

Farmers may harvest 13 million tonnes of corn, according to the median prediction of five analysts in a Bloomberg survey. That compares with last month''s 12.95 million-tonne forecast by the Crop Estimates Committee and is 11% more than the 11.7 million tonnes produced in the previous season. The range was 12.95 million tonnes to 13.15 million tonnes. The committee will release its data on April 24.

   

   

According to the committee, the crop may be the biggest since 1981, when South Africa produced 14.1 million tonnes. Meal made from the white variety is used to make a staple food known as pap, while yellow corn is mainly fed to animals.

   

   

"Yields could probably be increased slightly, as it has been a good season rainfall-wise," Andrew Fletcher, an independent trader in Kroonstad in the Free State province, said in an e-mailed response to questions.

   

   

Last month, the committee raised its prediction for cornoutput by 4.4% after rainfall in February and March helped yields, it said.

   

   

White corn for delivery in July was little changed at ZAR2,100 (US$199) a tonne at midday in Johannesburg trading. The yellow type dropped 0.2% to ZAR2,205.20 (US$210) a tonne.

   

   

Local farmers may plant 514,000 hectares (1.27 million acres) with wheat this season, according to a median estimate of three analysts surveyed by Bloomberg. That compares with the 505,500 hectares covered last year.

   

   

The nation is a net importer of wheat and sub-Saharan Africa''s largest producer of the cereal after Ethiopia. It is the region''s biggest buyer after Nigeria and Sudan, according to USDA data. Wheat for delivery in May declined 0.5% to ZAR3,965 (US$378) a tonne.