Namibian maize prices ‘stable’

WINDHOEK – The Namibian Agronomic Board says the price of maize has been stable over the past 16 months, hovering between N$1 600 and N$1 900 per ton.

“The Namibian Agronomic Board would like to rectify the widely held perception that the price of maize meal (for human consumption) has gone up a lot in the recent past. It is, however, true that wheat prices have doubled and rice prices have trebled,” the Board said in a media statement last week.The price of maize at Safex, the Grains Division of the Johannesburg Stock Exchange, which heavily influences the maize price in southern Africa, has been the most stable in years, the Board said.Because of this price stability, Namibian farmers are currently getting approximately the same price as last year.The price of maize meal has remained stable too, the statement said.It added that over the past 12 months Namibian millers had increased the wholesale price of maize meal only in line with inflation – by about seven per cent.However, with expected further increases in the prices of electricity and diesel, with inflationary pressure on wages, millers would be forced to increase their prices even if the price of maize remained stable.NampaIt is, however, true that wheat prices have doubled and rice prices have trebled,” the Board said in a media statement last week.The price of maize at Safex, the Grains Division of the Johannesburg Stock Exchange, which heavily influences the maize price in southern Africa, has been the most stable in years, the Board said.Because of this price stability, Namibian farmers are currently getting approximately the same price as last year.The price of maize meal has remained stable too, the statement said.It added that over the past 12 months Namibian millers had increased the wholesale price of maize meal only in line with inflation – by about seven per cent.However, with expected further increases in the prices of electricity and diesel, with inflationary pressure on wages, millers would be forced to increase their prices even if the price of maize remained stable.Nampa