Zimbabwe Commodity Prices Remain Firm as Strong Demand Supports Maize and Soya Bean Markets

HARARE – Commodity prices on the Zimbabwe Mercantile Exchange (ZMX) remained largely firm during the week ending June 6, 2026, as strong buyer demand and constrained local supplies continued to support key agricultural commodities despite a slight decline in white maize prices.

According to the latest ZMX Weekly Bulletin, sustained demand for maize, soya beans, and other staple crops is helping maintain price stability even as seasonal harvest deliveries gradually enter the market. White maize prices eased marginally by 0.20% to close at US$348 per tonne, while soya bean prices strengthened to US$551 per tonne, supported by robust demand and limited local availability.

"ZMX commodity prices remained relatively firm during the trading session, with maize closing at US$348/MT despite a slight 0.20% decline, while soya beans strengthened to US$551/MT on the back of strong buyer demand and tight local supply," the exchange said in its weekly market update.

The exchange noted that forward demand for white maize remains strong, providing medium-term support for prices.

"Standing demand of 1,000MT per month from July to December 2026 is already available on the exchange," ZMX said.

The exchange added that the forward contracts demonstrate continued commercial and industrial interest in maize beyond the current harvest season and could help cushion prices against increased supply inflows.

Current market data shows farmers have listed approximately 6,510 tonnes of white maize for sale, with asking prices ranging from US$340 to US$357 per tonne. Buyer demand currently stands at 7,000 tonnes across Harare, Bulawayo, and Mutare, with bids ranging between US$300 and US$350 per tonne. ZMX said the narrowing gap between buyer bids and seller offers suggests improving market efficiency as more grain enters formal trading channels.

The soya bean market continues to experience supply shortages, helping sustain elevated prices. Demand currently stands at 3,000 tonnes, while available supply is only 500 tonnes, creating a significant supply deficit. Analysts say the imbalance reflects strong demand from the stockfeed, cooking oil, and livestock sectors, which continue to compete for limited domestic production.

Demand for yellow maize also remains strong, with buyers seeking 3,120 tonnes compared to only 460 tonnes available on the exchange. The shortage is largely being driven by stockfeed manufacturers and livestock producers requiring grain inputs.

Meanwhile, wheat demand remained active at 1,000 tonnes, despite no supplies being listed on the exchange. Wheat prices held firm at US$470 per tonne, broadly aligned with import parity costs. Sugar beans and groundnuts continued to command premium prices of up to US$1,300 per tonne due to constrained supplies and strong market demand. Sugar bean supplies stood at 1,250 tonnes, with sellers seeking between US$1,150 and US$1,200 per tonne, while buyers were offering up to US$1,250 per tonne.

ZMX noted that local commodity prices remain significantly higher than regional and international benchmark markets, including those traded on the Chicago Mercantile Exchange and the Johannesburg Stock Exchange. The exchange attributed the premium pricing to domestic supply constraints, transportation costs, and sustained local demand.

The market is also being influenced by the government's 40:60 Local Grain Procurement and Import Verification Framework, which requires grain buyers and agro-processors to source at least 40% of their grain locally before importing the balance. Authorities say the policy is designed to support local farmers, strengthen food security, and reduce dependence on imported agricultural commodities.

Zimbabwe commodity prices