/ 9 February 1999

MAIZE PRICES HIGHER

EXPORT rumours flooded South Africa’s white maize market on Monday, driving prices higher. Dealers scrambled to cover short positions as the rumours of high export demand drove spot prices higher than futures rates. Traders said there was talk of exporting 400000 tons of maize to Mexico. The Tanzanian government also invited bids on Monday to provide 75000 tons of maize to alleviate a food shortfall. Famine predictions have been issued in the country by Frederick Sumaye, the prime minister.