Rising maize meal prices bite consumers

By Neo Kolane

Basotho will yet again have to go deeper into their pockets to purchase maize meal starting from Monday, May 6.

All maize products will go up by 15 percent, Lesotho Flour Mills (LFM)’s chief executive officer, Fourie Du Plessis said in a statement issued last week.

It was only last month (April) when LFM stated raw white maize meal prices would surge by 39 percent within two months from M3,800 per metric tonne as of January 31, 2024 to M5, 300 as from March 31, 2024.

Du Plessis noted that the spike follows high temperatures and low rainfall experienced during February and March 2024.

“Major maize production crop failures are experienced across Southern Africa which cause the surge in maize prices.

“We were hopeful at the time that raw white maize prices would stabilise during April following rainfall late in the season. Unfortunately, the rainfall was too late to impact the crop yields and prices surged further up to level of M5 500 per metric tonne during the past week,” he said.

On the other hand, he indicated that LFM would strive to fulfill orders placed by April 6. However, deliveries beyond this date cannot be guaranteed.

Du Plessis added that back orders for post April 6 deliveries at current prices will be considered exceptionally, provided they do not exceed one week’s worth of orders.

The World Food Programme says that about 580, 000 people in Lesotho are food insecure and require humanitarian action to reduce food gaps, protect and restore livelihoods, and prevent acute malnutrition.

Lesotho is highly vulnerable to the impacts of the climate crisis, with El-Nino induced droughts already devastating harvest yields and causing significant loss of livestock. The climate is predicted to become warmer and dryer, making droughts and floods more frequent and intense.

Consumers who spoke to theReporter pleaded with government to subsidise the prices of staple foods because salaries are not increasing.

“In short, those who have been dependent on maize meal as one of their sources of starch will suffer. Some might not even be able to buy at all,” Limpho Machacha.

The increases in the price of maize come hot on the heels of rises in the prices of electricity and petrol.

According to National University of Lesotho agri-business economist, Dr Montoeli Rantlo, consumers are going to feel the pinch of the drought because producers need to factor in the expenses of production.

He said the net effect is that food becomes more expensive to consumers.

Rantlo also noted that the economy is going to be pressurised because most of the products Lesotho imports from outside the country.

Basotho’s disposable income would go to the food basket.

“All the savings meant to save our economy, will not be easy to do, because we will only be looking at consumption in the households.

“If there are no savings, it means there is no meaningful investment that can take place,” Rantlo explained.

Parts of Southern Africa have been experiencing a severe drought since late 2023, fueled in large part by the ongoing El Niño Southern Oscillation.

Falling harvests have led to disaster declarations in Malawi, Zambia, and Zimbabwe and affected countries across the region. In particular, maize yields have fallen sharply, threatening food security for millions of households depending on this key staple for a significant share of total calories consumed on a daily basis.