FRA STARTS BUYING WHITE MAIZE WITH IMMEDIATE EFFECT THROUGH MAIN DEPOTS
….payment will be made within the shortest possible time upon processing of documentation
Lusaka…. Friday April 24, 2024 (SMART EAGLES)
Government through the Ministry of Agriculture has with immediate effect authorised the Food Reserve Agency (FRA) to start buying non-genetically modified grade A white maize from any individual or organisation on the local market.
FRA Executive Director Mwansa Chamatete said any individual or organisation with white maize can deliver the commodity to the nearest FRA Main Holding Depot countrywide and payment will be made within the shortest possible time upon processing of documentation.
Mr Chamatete further said the Agency is buying a 50 kilogramme bag of maize at K330.00 or K6,600.00 per metric tonne.
He notified that all FRA Main Holding Depots countrywide are now open, and ready to receive maize that meets acceptable quality and standards as per law required from interested parties.
‘Following the declaration of the drought situation in Zambia as a national disaster by the Republican President Mr. Hakainde Hichilema, various response mechanisms to address the situation have been put in place through the Ministry of Agriculture and the Food Reserve Agency (FRA). The Agency is also buying non genetically modified white maize on the Zambia Commodity Exchange (ZAMACE) platform. ZAMACE is an online, transparent market place for the trading of agricultural commodities, certification of storage sites, grading and valuation of stored commodities under warehouse receipts, as well as an enabler for the financial sector to finance warehouse receipts,” he said.
“It is an exclusively mandated entity prescribed to carry out this mandate under the Agricultural Credits Act No. 35 of 2010 of the Laws of Zambia. ZAMACE membership is open to individuals or corporate entities looking to participate in the commodities market in Zambia and interested suppliers wishing to transact on this platform are required to follow the set procedure on the platform. The terms and conditions are set by the exchange rules.”
Mr Chamatete indicated that the above response measures are supplementary interventions in addition to the annual crop marketing season which entails the buying of crops from small scale farmers aimed at replenishing the national strategic food reserves to ensure sustained national food security.