The Food Reserve Agency today announced a K40 increase in the buying price of a 50kg bag of maize from last year’s K110 to K150 for this year’s crop marketing season.
The Agency also announced that it will pay K500 per 50kg bag of Soya Beans while K200 will be paid per 40kg bag of paddy rice.
FRA Board Chairperson, Kelvin Hambwezya directed his staff to immediately enter the market and ensure that farmers are paid within 48 hours of delivering their produce. Mr. Hambwezya further stated that the Agency intends on purchasing between 500,000 and 1 million metric tons of white maize, 50, 000 metric tons of soya beans and 10,000 metric tons of paddy rice.
He revealed that the Agency will operate a total of 1,200 satellite depots in 105 districts countrywide. Mr. Hambwezya also stated that the country has a carryover maize stock of over 800 metric tons from last year.