Produce price of maize now pegged in USD$

Cabinet has pegged the produce price of maize in USD$ and directed that the Grain Marketing Board to pay farmers at the prevailing interbank rate.

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Cabinet has pegged the produce price of maize in USD$ and directed that the Grain Marketing Board to pay farmers at the prevailing interbank rate.

Information minister Monica Mutsvangwa told a post cabinet briefing that from now, the produce price of maize would be USD$ 242 per tonne and would translate to RTGS$ 1400 in the local currency.

The new price was an increase from RTGS$726 to RTGS$1400.

“In this case therefore, the maize producer floor price is thus reviewed upward from the current RTGS$ 726 to RTGS$ 1400 per metric tonne based on the interbank market rate of USD$1: RTGS$5.5. The review of the maize producer price does not translate into an upward adjustment in the retail price of mealie-meal since GMB (Grain Marketing Board) sells the maize to millers at a government subsidised price,” said Mutsvangwa.

Acting Agriculture minister, Oppah Muchinguri-Kashiri said the state grain utility had settled all farmers who had delivered their maize to GMB and funds were available to pay those who do so now as a way of cushioning farmers.

“Yes we used to owe farmers alot but i have been briefed that they have cleared. Funds have been availed to ensure that we pay the farmers.Remember farmers have invested alot and we can’t afford to let them down,” said Muchinguri-Kashiri