Lesotho bearing brunt of rising SA maize prices

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From Tsoanelo Mokhahlane in Maseru, Lesotho

PRICES of the staple maize meal in Lesotho have
reached a five-year high as the country grapples with increasing grain
prices in neighbouring South Africa.
The prices in Lesotho are projected to increase further in the wake of
increased demand driven by a poor harvest this year. This is the
aftermath of insufficient rain.
Maize is priced at LSL5,50 (US$0,39) at markets in the capital Maseru.
Prices are projected to escalate to LSL6 until the next harvest in
February next year.
Projections by Famine Early Warning Systems Network (FEWS NET) show that
maize meal prices in Maseru would likely increase to above-average
levels during the outlook period.
They are expected to fluctuate between 4 percent and 12 percent above
the five-year average between July 2019 and February 2020.
South Africa is a source market for Lesotho maize exports but is
experiencing shortfalls of its own.
A recent South African Grain Information Service (SAGIS) bulletin
indicated that white maize grain prices in the country slightly
increased between April and May.
It also projects that white maize grain prices will likely increase by 7
percent between June 2019 and March 2020.
At the time of publication, South African white maize prices were at R2
900 ($205,88) per tonne.
“This increase is expected to cascade down to receiving markets in
Lesotho,” FEWS NET stated.
“The combined effects of below average harvest, low incomes, and
increasing maize meal prices are expected to increase food insecurity to
above last year levels,” the agency added.
Although official crop estimates are still to be released, unofficial
statistics indicate that maize grain production is likely to be below
last year’s levels and 20 percent to 40 percent below peak levels.
In addition, wheat and sorghum production are also well below average,
at around 10 percent to 30 percent.
The World Food programme (WFP) anticipated food security in Lesotho to
deteriorate further from July 2019 to June 2020.
The food insecure population projected to increase to 640 000. This is
out of the country’s total population of 2,29 million people.
Agriculture, which contributes 7 percent of the Mountain Kingdom’s gross
domestic product (GDP), is a major source of livelihood for 80 percent
of the population living in rural areas.

– CAJ News




 

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