Zambia: Cornmeal prices to drop

Published 2022년 2월 4일

Tridge summary

The Zambian government is taking steps to reduce mealie meal prices by permitting millers to purchase maize from the Food Reserve Agency (FRA) for export, with the condition that the local mealie meal prices decrease. The FRA has acquired over 3.3 million metric tonnes of maize from the 2021/2022 crop marketing season, thanks to a bumper harvest, and has been authorized to purchase an additional 450,000 metric tonnes to prevent waste. Millers have been approved to export 1.2 million metric tonnes of maize they had purchased from farmers due to decreased domestic demand. The Millers Association of Zambia (MAZ) reports that 135,000 metric tonnes of mealie meal have been exported out of the 150,000 metric tonnes allowed in the last quarter.

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Original content

IN EFFORTS to lower mealie meal prices, Government has allowed millers to buy maize from Food Reserve Agency (FRA) for export on condition that the cost of the staple food reduces on the local market.Millers Association of Zambia (MAZ) president Andrew Chintala said millers have been allowed to export more mealie meal from the 450,000 metric tonnes (mt) of maize the agency bought from farmers after meeting its target.FRA targeted to buy 500,000mt during the 2021/2022 crop marketing season.However, the country recorded a bumper harvest of over 3.3 million and Government directed the agency to buy an extra 450,000 metric tonnes worth K1.6 billion to prevent it from going to waste. Further , Government allowed millers to export 1.2 million metric tonnes of maize which they had bought from farmers following reduced demand for mealie meal in Zambia.The country needs 120,000 metric tonnes per month for consumption.And a check at Pick n Pay supermarket at Levy Business Park found a 25 ...

Source: Daily-mail