El Niño-induced weather patterns may have a material effect on inflation.
Dryer and hotter-than-usual weather across South Africa’s main summer crop growing regions is hurting the outlook for the key corn harvest and raising risks for higher food-price inflation, according to a farm-industry group.
While farmers have managed to expand planting areas relative to the previous season, yields are expected to be poor and suffer from heat damage and a lack of rainfall, Sihlobo said. In its most recent forecast released at the end of February, the Crop Estimates Committee saw harvests for white and yellow corn falling 17.2% and 7.7%, respectively, in the 2023-24 season.Second 2023/24 production forecasts for summer crops are scheduled for release on 26 March and will likely indicate worsening conditions for corn, he said.
Food inflation, which has been the biggest contributor to the headline number, slowed to 7% from 8.5% in December.
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