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Reference Date: 07-September-2016

HIGHLIGHTS

  1. Bumper 2016 maize crop boosts cereal production to record high

  2. Maize exports in 2016/17 marketing year forecast at all‑time high

  3. Wheat and wheat flour prices followed mixed trends in August, maize prices declined sharply

Bumper 2016 maize crop boosts cereal production to record high

The 2016 cereal production is forecast at 62.7 million tonnes, the highest level in more than a decade. This mainly reflects the record maize crop, harvested in May, which was estimated at 39.8 million tonnes. The removal of export controls and the weak national currency led producers to increase plantings by 15 percent, relative to the high level of 2015, in response to the high export demand. Good yields also contributed to the high output. The 2016 wheat crop, planting of which is virtually concluded, is also forecast at a bumper level of 14 million tonnes. High export demand led to an increase in plantings of almost 19 percent over last year.

Maize exports in 2016/17 marketing year forecast at all‑time high

Reflecting this year’s record crop, as well as competitive prices in US dollar terms, maize exports in the 2016/17 marketing year (March/February) are forecast to reach 24 million tonnes, a record high. Wheat exports are also anticipated to increase 6 percent from last year and reach 10.8 million tonnes during the marketing year (December/November), reflecting this year’s bumper crop.

Wheat and wheat flour prices followed mixed trends in August, maize prices declined sharply

Domestic prices of wheat grain declined in August ahead of the bumper harvest expected this year, but were still twice their year‑earlier levels as a result of high export demand. Wheat flour prices rose further and were nearly double their values in August last year. Prices of yellow maize dropped significantly from the record levels in July on account of new supplies from the recently‑concluded 2016 record harvest. Maize prices, however, remained nearly three times above their year‑earlier levels, mainly reflecting strong exports supported by a weak local currency.









Relevant links:
From GIEWS:
 Food Price Data and Analysis Tool
 Earth Observation Indicators
 Maps
 Seasonal Indicators
 Vegetation Indicators
 Precipitation Indicators
 Graphs & Data
 NDVI & Precipitation
From FAO:
 FAO Country Profiles

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