Table 2.1
White Maize (R/ton)
Yellow Maize (R/ton)
2019 2020 2021
2 696 2 921 3 428
2 805 3 040 3 276
Average Yellow and White Maize Production and Consumption 2022
Forecasts
2022 2023 2024 2025
4 351 3 967 3 808 3 895
4 300 3 915 3 760 3 945
• The global price downturn as explained above is underpinned by a positive supply response to high prices and favorable margins
Source: Absa AgriBusiness, 2022
in various key production regions around the globe. Production and trade from the Ukraine remains limited. Before the invasion the Ukraine was responsible for around 10% of global corn exports. The extent to which this can be re-established, combined with climatic conditions in key production regions, will be key in giving global markets direction over the next 18 months. • Over the coming years, we expect white maize to trade at a slight discount to yellow maize but will largely be determined by the production conditions of other countries in the region. With good
SAFEX maize prices could pull away from export parity due to low stock levels export prospects, white maize prices will likely trade at a premium. In the absence of regional export opportunities, surplus white maize will likely flow to the feed market and trade at a discount.
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