With current export levels and 10 weeks left on the financial year it seems that export would be very close to 2 427 mt exported for the season.

With the majority of WM being exported to Botswana (145 711) and Kenya (247 250).

On YM 765 668 tons was exported to Japan.

211 943 to the Republic of Korea and 249 135 to Taiwan, Rep of China.

Punching the the above into our current S&D, we looking at carry forward into the new season of approximately 2 800mt.

This combined with current season conditions indicate that prices could stay low. We need more exports to reduce our balance sheet, either parities on international markets higher or lower prices could make our maize more attractive to international importers. Especially on the bulk of WM stock.