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  • Oct 27th, 2005
  • Comments Off on South African maize deliveries decline
Around 9.64 million tonnes of maize have been delivered from the 2005 South African harvest to October 21, estimates from the South African Grain Information Service (SAGIS), showed on Wednesday.

The figure was adjusted down marginally from the 9.65 million tonnes reported last week by SAGIS, which launched the data several weeks ago to try to clear up confusion surrounding the size of this year's crop.

SAGIS said 13,738 tonnes of maize were delivered last week, but it adjusted downwards previous figures by 30,323 tonnes as it verified the data.

The most recent delivery data is sourced from role-players such as traders and processors and the figures sometimes change once they are verified. Data up until the end of September has now been verified, SAGIS said.

The deliveries are sharply less than the 12.18 million tonnes estimated for the total crop by the government, leading some to speculate about a smaller crop.

Others say that many farmers are holding onto their grain and storing it themselves to save money while waiting for higher prices or feeding it to livestock.

The concern about a possible smaller than expected crop has boosted white maize prices over the past few months by around 30 percent.

The estimates committee said last month farmers were likely to plant 42 percent less land with maize, but many traders say that the rally in prices might mean that more planting will actually take place.

Benchmark December white maize futures closed little changed, down one rand to 846 rand per tonne, while December yellow maize ended unchanged at 777 rand.

Copyright Reuters, 2005


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