The Food Reserve Agency (FRA) has finally announced the long awaited maize flow price for the 2016-2017 crop marketing season which has been pegged at K60 for a 50 kilogram bag of maize.
And the FRA has announced that the crop marketing season will begin on the 1st of August 2017 in areas where the required national average grain moisture content of 12.5 percent has been attained.
Speaking at a media briefing in Lusaka today, FRA Board Chairman Joe Simachela said the Agency will be restricted to purchase 500,000 Metric tons of grain as National strategic food reserve adding that the agency will no longer sell grain to millers as they are expected to buy their own.
The FRA Chairman has however stressed that the market price will not in any way disadvantage the private sector who are expected to purchase a larger share of the 3.6 million Metric tonnes of maize produced as compared to the 500,000 Metric Tonnes the agency is expected to buy.
Meanwhile FRA Executive Director Chola Kafwabulula said the country is expected to export 100,000 metric tonnes of maize mostly to East African countries which is part of the over 200,000 metric tonnes surplus from the 2016 season and will bring in 13 million United States dollars for the country.