Source: Ukragroconsult (Ukraine)
Corn and oilseed crop forecasts for South Africa in the 2024/25 marketing year indicate significant growth: the total volume is 18.74 million tons, which is 21% more than in the previous year. In particular, the corn harvest is estimated at 15.03 million tons, which is 17% higher than in the 2023/24 season, thanks to favorable summer rains and sufficient acreage. This volume significantly exceeds the country’s annual corn needs of about 12 million tons, providing a surplus for export.
Corn prices in South Africa are falling thanks to the abundant harvest, although there are some problems with the quality of white corn and sunflower seeds. According to economist Wandile Sikhloho, spot prices for white corn have fallen by about 24% compared to last year and stand at 4,071 rand per ton, while prices for yellow corn have fallen by 10% to 3,805 rand per ton.
The decline in white corn prices will soon have a positive impact on consumers, while moderate yellow corn prices are helping to reduce feed costs for the livestock and poultry industries. These industries continue to experience difficulties due to the outbreak of foot-and-mouth disease, and the decline in feed costs is somewhat easing their burden. Favorable price trends are providing some relief to producers in these sectors.
The previous year, 2024, was difficult due to drought, which led to crop failures, but the 2024/25 season has been a period of recovery. The corn surplus allows South Africa to maintain its status as a net exporter, strengthening its position in the global market.