It was announced on Monday that the price of maize hit its highest in nearly two years, as the rand sank to a new low to the dollar.
The sharp rise in the price of maize, coupled with the dry weather conditions and the continued weakening of the rand could threaten to rapidly push up food prices in coming weeks.
However, Economist at GrainSA, Wandile Sihlobo said on Tuesday that the rise in maize prices is temporary and dependent on expected rainfall.
Listen to the full conversation from The Midday Report with Stephen Grootes:
If the rains that we are forecasting do not materialise, then we can start to be worried in the next few days. If we do not get rains in the next eight days or so, then we may start to get worried.— Wandile Sihlobo, Economist at GrainSA