South Africa Cranks Up Corn Exports Amid Record Harvest

South Africa's corn harvest has reached an all-time high of 18 million tons, surpassing the previous record set in 2017. The increase in production was due to a slight rise in the area sown to 3.1 million hectares and favorable weather conditions in the second half of the season.

January's heat and drought negatively affected crop development, but abundant rains in February-April allowed for high yields. The use of new agricultural technologies, modern selection, and crop protection products has also boosted corn productivity.

The large supply of maize on the domestic market, estimated at 20.9 million tonnes, including carryover stocks, led to a 33% decline in white maize prices and a 23% decrease in yellow maize prices over the past 14 months.

Domestic corn consumption is expected to increase to 14.2 million tons, with half being used in the food industry and the other half in feed production.