WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2004-01-20 Posted By: Jan
From the News Archives of: WWW.AfricanCrisis.Org
Date & Time Posted: 1/20/2004 5:29:54 AM
S.Africa: Maize futures prices up 44%
[Note. Here is more on the rising price of maize – the staple food of black people. Jan]
THE price of the staple maize meal could rise as much as 20% following a 44% surge in white maize prices on the futures market since last month, the National Chamber of Milling warned.
The chamber’s executive director, Jannie de Villiers , cautioned that if the pace of higher maize prices continued, there could be a repeat of the 2002 food price crisis, when the cost of maize meal doubled.
De Villiers said maize meal prices were currently based on white maize that was bought at a price of around R975 a ton.
However, maize prices on the South African Futures Exchange (Safex) have soared above R1400 a ton, from about R927 a ton last month, mainly due to the drought, which has resulted in lower maize planting this year.
The sharp decline in the rand against the dollar recently has worsened the situation, putting upward pressure on the Safex maize prices, since local grain prices are determined from a dollarbased grain price set on US agricultural futures markets.
The rand’s crash in late 2001, coupled with expectations of a maize shortage in 2002, led to a peaking of white maize prices of R2000 a ton .
Maize meal prices subsequently doubled during that year, reaching a peak of about R42 for a 12,5kg bag in October 2002.
De Villiers said maize meal prices had dropped to below R30 by October last year, but were once again on the rise.
While he still believed price pressures could ease given favourable weather conditions, the fluctuations in the maize prices over the past 18 months were increasing the risk to the milling and animal feed industries.
Yellow maize prices have also increased sharply since last month, by about 30% to R1300 a ton. It is used in animal feed and its price affects a wide range of food products, such as milk, eggs, meat and poultry.
With the food category comprising the largest component of the consumer inflation basket, higher food prices will increase the risk of inflation.
Source: AllAfrica.com
URL: http://allafrica.com/stories/200401190439.htm…br>