CAPE TOWN - South Africa's Agriculture Minister said on Tuesday the country had secured foreign markets to sell the surplus maize of about four million tonnes in the 2009/10 season to safeguard maize prices for local farmers. South Africa, the continent's largest economy, is also Africa's biggest maize producer, and the government last month raised its forecast of maize output for the 2009/10 season to 12.96 million tonnes due to higher expected yields. South Africans in the top global exporter of maize consume between 8-9 million tonnes of the staple each year. Agriculture, Forestry and Fisheries Minister Tina Joemat-Pettersson said if the surplus was not sold it would "destroy" the country's maize industry. "We are acutely aware that the (2009/10) surplus production is a double edged sword that has the potential to depress prices and undermine profitability. It is in the light of this that we have mobilised and secured markets with Kenya, the World Food Programme, IFAD, FAO and Egypt," she told reporters ahead of her budget vote speech.
