South Africa’s corn crop expected to rebound

Published 2024년 7월 26일

Tridge summary

The USDA's Foreign Agricultural Service forecasts that higher corn prices, resulting from a drought-affected 2023-24 crop in South Africa, will lead to increased planting and production in 2024-25. Production is projected to reach up to 16.5 million tonnes with a harvested area of 3.1 million hectares and improved yields. Despite a significant drop in 2023-24 production, South Africa is expected to export 1.5 million tonnes of corn. Advanced farming technologies have helped mitigate some drought impacts, and year-end stocks are anticipated to rise by 20% in 2024-25 due to higher production.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Higher prices for corn following a drought-ravaged 2023-24 crop should lead to a larger planted area for 2024-25 and, under normal weather conditions, greater production that will maintain South Africa’s place as a net corn exporter, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA). The FAS estimates South Africa will produce up to 16.5 million tonnes of corn in 2024-25. An El Niño-induced midsummer drought caused the smallest corn crop in five years in 2023-24 and prompted higher local corn prices. Producers are anticipating continued elevated prices as they prepare for planting season later this year. The FAS projects the area harvested to reach 3.1 million hectares in 2024-25, up from 2.9 million the previous marketing year, and an improved yield of 5.3 tonnes/hectare, compared to 4.68 t/ha. An estimated 2.5 million tonnes of the 2024-25 crop is seen heading for export. “The white corn area is projected to surge due to ...

Source: UkrAgroConsult