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GMB pays US$3, 29 million for grain deliveries

by Staff reporter
16 Jun 2024 at 09:39hrs | Views
The Grain Marketing Board (GMB) of Zimbabwe has announced a significant payment milestone for farmers, dispersing US$3.29 million for maize and other grains delivered since April 1, 2024. Dr. Edison Badarai, CEO of GMB, assured farmers that Treasury had committed to consistent funding for timely payments, encouraging continued grain deliveries with a promise of payments within 21 days.

Current market prices per tonne were outlined: maize and traditional grains at US$390, sunflower at US$696 (split US$418 and ZiG equivalent to US$278), and soybeans at US$580 (split US$348 and ZiG equivalent to US$232). Producer prices for maize and traditional grains were set at US$335 per tonne, with a split payment of US$200 in foreign currency and US$135 in local currency at the interbank rate. Soybeans were pegged at US$580 per tonne, with farmers receiving US$348 in foreign currency and US$232 in local currency. Sunflower had a floor price of US$696 per tonne, with payments split as US$418 in foreign currency and US$278 in local currency.

Nixon Kanyemba, GMB's corporate communications manager, emphasized that maize and traditional grains were exclusively paid for in US dollars to farmers. The government's commitment to ensuring national food security was highlighted through practical interventions and sustained efforts.

Paul Zakariya, Secretary General of the Zimbabwe Farmers Union (ZFU), stressed the importance for GMB to be well-prepared for every marketing season to ensure timely payments, enabling farmers to plan effectively for subsequent seasons. Dr. Shadreck Makombe, President of the Zimbabwe Commercial Farmers Union (ZCFU), echoed this sentiment, emphasizing that immediate payments upon delivery were crucial for supporting farmers' operations and contributing to national food security goals.

Source - The Herald