Prices in surplus producing countries have converged in August 2024:
Uganda and Tanzania prices close to US$210/Mt and South Africa’s maize price at US$226/Mt.
Prices in southwest Tanzania, which is the maize producing region in Tanzania, have increased by 19% from US$178/Mt in July to US$212/Mt. In August 2024, the same prices recorded in June 2024. As a result, maize.
Although its maize deficit is expected to double, Zambia’s maize prices slightly decreased by 13% from US$320/Mt in July to US$280/Mt in August 2024, reflecting prices in southwest Tanzania plus the cost of transportation from southwest Tanzania to Lusaka.
We estimate the import parity price to be US$257/Mt which is much closer to the prevailing prices in Zambia (Lusaka) at US$280/Mt. This indicates that markets in Zambia are functioning well in terms of trade and pricing. In Kenya instead, prices have diverged and are much higher than in southwest Tanzania.
Maize prices from selected ESA countries.
Source: AMO price tracker data/Farmgain.