FRA sets 2024 maize price at K330 per 50kg bag

  • The set price is reflective of considerations such as the cost of production for maize and current market trends.
  • The set price is not a floor price but an offer price for FRA
  • FRA is continuing to pay cash on the spot to farmers delivering maize to its depots.

 

Food Reserve Agency (FRA) has announced that it has with immediate effect started buying Grade A Non-Genetically Modified white maize from small scale farmers in all its satellite depots countrywide at K330 for a 50kg bag or K6,600 per metric tonne during the 2024 crop marketing season.

FRA Executive Director Mwansa Chamatete said the set price is reflective of considerations such as the cost of production for maize and current market trends among other factors.

Mr. Chamatete stated that during this year’s crop marketing season, the Agency is continuing to pay cash on the spot to farmers delivering maize to its depots, and will also be paying farmers through designated banks as well as mobile money platforms to quicken the payment process.

“In this regard, the Agency wishes to inform the public that all its satellite depots countrywide are now open and ready to receive maize from small-scale farmers. Due to the drought experienced, the Agency has been strategic in setting up depots and has increased the number of depots in areas that did not experience drought and are likely to record good harvests.”

“The Agency wishes to remind the public that the set price is not a floor price but an offer price for FRA under the principle of willing seller and willing buyer,” Mr. Chamatete stated.

He added that the commencement of maize purchases in satellite depots compliments other initiatives already put in place by Government such as the Early Maize Programme with contracted commercial farmers and the maize mopping exercise.

Mr. Chamatete noted that these initiatives are aimed at ensuring adequate response mechanisms to the drought situation in efforts aimed at replenishing National Strategic Food Reserves.

“Due to the uniqueness of this year’s crop marketing season because of the dynamics brought into play by drought, farmers are encouraged to be more patriotic and support government efforts of sustaining National Food Security.”

“In this regard, the Agency is appealing to farmers to prioritize household and national food security by selling their excess maize to the country through FRA. By doing so, farmers will be playing their role in making Zambia food secure and in sustaining the status,” he added.

During the 2023 crop marketing season, FRA pegged its maize purchasing price at K280 for a 50 kilogram bag.

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