NEW: Grain SA Attributes High Maize Price Increase To Zuma's Sacking Of Nene

Grain South Africa says the cost of importing maize into the country has increased by 15 percent since President Jacob Zuma fired Nhlanhla Nene as finance minister and the accumulated increase for the season is estimated at R3 million.

South Africa usually exports around two million tons of maize every year generating R6 billion for the economy, but due to this year's drought, this has not happened.

It says the country's maize traders will import 770 tons of maize at a price of R2,2 billion; 80 percent of this had been imported before the rand tumbled last week.


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