SA yellow maize futures rise to 15-month high
FMCG SUPPLIER NEWS
IOL Business/ Bloomberg - Dec 4th, 08:15
Johannesburg - South African yellow-corn futures rose to the highest level in more than 15 months in Johannesburg trading.
The contract for December delivery increased 1.6 percent to 2,635 rand ($254) a metric ton, the highest for a front-month security since August 27, 2012, by the midday close in the city.
The same contract for the white variety climbed 1.5 percent to 2,623 rand.
South Africa is the continent’s largest producer of corn.
The yellow variety is mainly fed to animals in the nation, while a meal made from the white variety is a staple food.
Wheat futures advanced for a fifth straight day, rising 0.8 percent to 3,607 rand.
South Africa, a net importer of wheat, is the sub-Saharan area’s largest producer of the grain after Ethiopia and the region’s biggest buyer after Nigeria and Sudan, according to US Department of Agriculture data. - Bloomberg News © Independent On-line 2013. All rights reserved.
Related News
SABMiller CEO Graham Mackay dies
20/12/2013 - 08:21
Cape Town - SABMiller [JSE:SABMiller] announced on Wednesday that its chairperson Graham Mackay, who has been with the company for 35 years, has passed away. Mackay was diagnosed with a brain tumour in April 2013.
Edcon to sell top UK clothing brand
19/12/2013 - 10:08
Johannesburg - The country's fashion industry has been set a twitter by the news that one of the biggest and most recognised clothing brands on the British high street will soon be found in South Africa.
Namibian maize test positive for GMO
19/12/2013 - 08:13
The Namibia Consumer Trust (NCT) revealed yesterday in a press statement that a second test found traces of genetically modified organisms (GMO) in Maize meal on Namibian store shelves.
Food issues to threaten US-EU free trade deal
18/12/2013 - 10:16
Genetically modified crops, chlorine-washed chicken, beef quotas and a fight over who can call Greek-style cheese “feta” all block the way towards the largest free trade deal.
Rupert, top wine producers form new body
13/12/2013 - 08:38
Cape Town - Those who talk about land grabs do not really understand the finances of the wine industry, according to Johann Rupert.
