15 November 2012

Namibia: Some Relief On Maize Price

Windhoek — Namibian consumers can expect some relief on food prices towards the end of the month following an announcement by Namib Mills yesterday to decrease the price of maize meal by between 8 percent and 10 percent. The price decrease will be affective as of November 26.

According to Ian Collard, managing director at Namib Mills, the decrease is possible because Namibia harvested a bumper maize crop this year, which has led to substantial maize reserves.

The bumper crop also means that Namibia's borders are closed until November 21 for the importation of white maize. "The maize crop harvested in the region was sufficient and the decrease is as a result of lower raw material prices in the region," explained Collard.

In addition, stable international maize prices are evident after ethanol and feed demand in the United States drove prices downward. Before this, prices had increased dramatically, due to a severe drought experienced in the United States.

Currently a 12.5-kilogramme bag of Top Score maize sells for about N$108, while a 2.5kg bag will set the consumer back just over N$24. Maize meal is a staple food in Namibia and makes up a significant portion of the diet of most Namibians.

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