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Purchase Maize & Soya Bean before prices go up – Millers urged

The Briefcase Trader has advised millers to aggressively purchase Maize and Soya Bean before prices go up later in the year.
The Trader says maize prices, which are currently trading between 3 000 and 3,200 a tonne for both Commercial and Small scale are expected to continue to rise until the end of the year.
According to the Briefcase Trader weekly Report, Soya Bean Prices could rise higher than the current 4,900 to 5,300 Kwacha for Small scale and 425 to 440 dollars a tonne for commercial in the coming weeks.
The Reports says the increase in commercial Soya Bean Prices is in part due to the gains the Kwacha has made against the US dollar in the last two weeks and the reducing amount of stock in hands of the farmers.
“A strengthening kwacha will see continued gains in commercial soya bean and soya meal prices. We, however, maintain the view that, barring a major shock, the kwacha will depreciate against dollar in the coming months.” says the Briefcase Trader.

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