SA maize falls after USDA report
IOL Business/ Bloomberg News - Jun 14th, 08:20
Johannesburg - South African corn declined for a second day after a report from the US Department of Agriculture showed more production than anticipated.
White corn for delivery in July fell 0.3 percent to 2,316 rand ($233) a metric ton by the midday close on the South African Futures Exchange.
The yellow variety for delivery in the same month lost 0.3 percent to 2,287.40 rand a ton.
The USDA forecast corn output in the US, the world’s biggest producer, at 14.005 billion bushels, compared with the average estimate of 13.82 billion in a Bloomberg survey of analysts.
A stronger rand contributed to the declines, said Andrew Fletcher, an independent trader in Kroonstad in the Free State province of South Africa.
The country’s currency strengthened after the World Bank cut its forecast for global economic growth, easing concern central banks are preparing to curtail monetary stimulus.
Meal made from white corn is a staple food in South Africa and the yellow variety is mainly used as animal feed in the continent’s largest producer of the grain.
Wheat for delivery in July dropped 0.8 percent to 3,570 rand a ton. - Bloomberg News © Independent On-line 2013. All rights reserved
Meatco and Witvlei bid for Norwegian meat quota, Namibia
22/10/2013 - 08:31
Meat processing companies, Meatco and Witvlei Meat, have once again bid for the lucrative beef export quota to Norway, which is set at 1600 tonnes per year and pays 72% more than exports to other parts of Europe. Earlier this month, the Meat Board of Namibia requested for bids for the Norway quota from local meat companies.
Dunavant diversifies to buying maize, soya beans, Zambia
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PC market doing better than expected
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Asian bacteria threatens Florida oranges
14/10/2013 - 09:13
Washington - Citrus production in Florida, the world's second largest orange juice supplier after Brazil, is being threatened by a bacteria from Asia that has scientists racing for a remedy.
Ghana’s public debt is fourth highest in Africa, World Bank
11/10/2013 - 09:02
Ghana has been ranked as the fourth country in Africa with the highest public debt in relation the total value of the economy.