SAFEX

White Maize Actual Spot Price & Future Price for 04 Sep 2017 to 17 Oct 2017

The white maize price formula is based on a 5-year average of the SAFEX actual spot price, fully inflation adjusted, plus:

  • A transport differential ex Bloemhof landed at a milling facility north or south of a median being Otjiwarongo, and;
  • an 8% GMO-free premium

Should the SAFEX spot price spiral upwards beyond the 5-year average price, the formula will be based on the Safex weighted fortnight:

  • A transport differential ex Douglas landed at a milling facility north or south of a median being Otjiwarongo, and;
  • an 8% GMO-free premium

In Namibia, white maize is grown exclusively as a staple food and is planted under both irrigation and rain fed conditions.