March 25, 2014
South Africa may raise corn output estimates to 12.7 million tonnes
After late summer rains earlier this month brought relief to drought-hit parts of the country, South Africa is likely to raise its corn output estimates for this year, a Reuters survey showed.
The government's Crop Estimate Committee (CEC) is likely to say the corn output forecast is now 12.7 million tonnes from last month's estimate of 12.403 million tonnes, according to an average estimate of five traders polled by Reuters.
The estimates ranged between 12.5 million tonnes and 13.0 million tonnes.
The CEC will release its second production forecast for summer crops on Thursday (Mar 27).
Corn is the staple crop in South Africa and a bigger crop this year will be a relief for the country as stocks are currently running low.
Following huge export demand and local consumption depleted stocks, the country has had to import yellow corn this year.