South African maize exports this market season, which ends April 30, could reach 2 million tonnes, similar to last season's figure, producer body Grain SA said on Wednesday in its annual report.
Export commitments for Africa's biggest maize producer have also forced the regional breadbasket to import some maize, keeping local futures prices high and pressuring domestic food inflation.
“Expectations are that exports this season can reach 2 million tonnes (1.24 million tonnes of white maize and 760,000 tonnes of yellow maize) if the export rate can be maintained,” the report said.
“South Africa is positioned to serve the white maize market in Africa, but also to provide countries in the east like China and Korea with yellow maize. Deep-sea exports will be maintained as long as international prices and favourable exchange rate ratios can be maintained,” it said.
Grain SA said South Africa exported 2.06 million tonnes of maize last season.
The government's Crop Estimates Committee last month forecast South Africa would harvest 11.7 million tonnes in the current 2011/12 production season, compared with 10.36 million tonnes in the last one.
Local maize prices are off recently scaled historic peaks but remain high.
The most active July white maize contract ended 1.75 percent higher on Wednesday at 2,153 rand ($280) a tonne, while yellow maize for delivery in the same month ended 1.32 percent up at 2,119.60 rand a tonne. - Reuters