Commodities
South Africa Corn-Export Forecast Raised to 1.9 Million Tons
- Carry-over stocks are higher than expected, chamber says
- South Africa’s neighbors have had crops slashed by drought
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South Africa’s Agricultural Business Chamber has raised its forecast for the country’s corn exports for the year ending April 2025 to 1.9 million tons.
The increase, from a previous estimate of 1.85 million tons and an earlier forecast of 1.44 million tons, is due to higher-than-expected stocks carried over from the last season and a slight decrease in forecast domestic consumption, Wandile Sihlobo, the chamber’s chief economist, said in a statement sent to Bloomberg on Wednesday.