The Briefcase Trader has noted that Maize outlook for Zambia is volatile and anticipates higher market prices for the 2019 crop marketing season.
It says in the 2019 outlook report that the commodity is currently trading between K2,300 and K2,700 per tonne, higher than the 5-year average price of K2,000 per tonne.
The Briefcase Trader says the price is mainly driven by reduced supply and market availability of Maize.
It says in a statement to Money FM that prices are expected to top at K3,500 per tonne which will be K200 higher than 2015/2016 prices.
According to reports, the analysis is based on the fact that there will be a scramble for maize by millers through the season, and market fundamentals will push prices up.
“A weaker kwacha normally results in higher maize prices as many traders and millers fund their operational activities in US dollars allowing them to pay for a tonne of maize with less US dollar expenditure” it adds.