South Africa Exports the Most Yellow Corn in More Than 3 WeeksTshepiso Mokhema
South Africa, the continent’s largest producer of corn, made its biggest shipment of the yellow variety in more than three weeks.
The country exported 84,449 metric tons of yellow corn in the week to Aug. 16, including 50,170 tons to Japan and 30,166 tons to South Korea, the Pretoria-Based South African Grain Information Service said in a statement on its website. That is the largest shipment of the variety since the week through July 26, when South Africa exported 94,411 tons, the most in at least a decade, according to the organization
The country may run out of yellow corn, used mainly as animal feed, if exports rise further, potentially lifting prices for the white variety, which is used as a staple food, an organization representing growers and traders said July 2.
“Exports remain robust; all that this implies is that supply and demand will get tighter and tighter” Andrew Fletcher, an independent trader in Kroonstad in the Free State province, said by phone.
Yellow corn for delivery in December, the most active contract rose 0.1 percent to 2,195 rand ($216) a ton, the highest since Aug. 2. The white variety for delivery in the same period, was little changed at 2,343.20 rand a ton.