Maize prices in South Africa have fallen by as much as 60% following a surplus maize crop that is estimated at 15.63million tons this season - the largest harvest in nearly three decades. This is bad news for farmers, who are now faced with low maize prices so soon after the devastation experienced from an El Niño-induced drought last season. On Thursday, white maize prices were trading at R1,763 per ton and yellow maize prices were R1,893 per ton, according to data from the Agricultural Business Chamber. Wandile Sihlobo, head of the economic and agribusiness intelligence unit at the Agricultural Business Chamber, said the fall in maize prices would be a huge relief for cash-strapped consumers, but a blow to farmers."The prices are down by 60% compared to last year and farmers are squeezed and finding it hard to adjust to the low prices. The average farmer spends about R2,000 to R2,200 on inputs. "So many might have difficulty recovering, especially coming from a drought, amid indic...
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