South Africa has emerged as a competitive source of corn in recent weeks - but the country is facing increased competition from Brazil according to price reporting agency, AgriCensus.
AgriCensus spokesperson Tim Worledge said the sector had entered the new marketing year with healthy stock levels and was expecting a good corn crop.
Total corn exports in May amounted to 76 861 metric tonnes, up 23.7% from May 2017, with a week still to go.
An Asia-based market source however yesterday told AgriCensus that Brazil was nearing its peak harvest period which, along with eroding global prices, could stymie further exports, putting further pressure on prices.