FRA sets maize purchasing price at K65 per 50KG bag

FRA Board Chairperson, Joe Simachela (Picture by Albert Mpezeni)

The Food Reserve Agency (FRA) has set its maize buying price for the 2018 crop marketing season at K65 per 50kg bag, an increase of K5 on last year’s price.

FRA Board Chairperson, Joe Simachela has told a media briefing that the agency will start buying maize and other crops on 1^st August, 2018.

Mr Simachela says the agency will buy 500,000 metric tonnes of maize, 10,000 metric tonnes of soya beans and 2,100 metric tonnes of paddy rice.

Mr. Simachela says over K1.1 million has since been set aside for this exercise.

He says the FRA currently has 300,000 metric tonnes of maize in its storage facilities.

Mr Simachela says it has been agreed that within two weeks of supplying the maize to the agency, the farmers will receive their payments.

He states that the agency will be buying a 50kg bag of Soya Beans at K130 while a 40kg bag of paddy rice will be purchased at K70.

Mr Simachela says the agency widely consulted with relevant stakeholders in the sector before coming up with the price.

Speaking at the same briefing, FRA Chief Executive Officer, Chola Kafwabulula said the agency exported about 100,000 metric tonnes of white maize within the African region and raised about US$13 million which was deposited into the government account.