SECURITIES and research firm Morgan & Co says National Foods is likely to experience substantial growth in maize sales volume this year despite a devastating drought as consumers tend to directly source grain from millers during lean years.
Cereal crop production prospects for 2024 have taken a sharp downturn since the beginning of the year across the southern African region due to the heightened effects of the El Nino phenomenon.
The price of maize has surged in response to the anticipated shortage which has been compounded by depleting reserves even at the household level.