FRA sets maize buying price at k150 for 50kg bag
Written by MillenniumEditor2 on May 31, 2021
The Food Reserve Agency has set its maize buying price at K150 for 50 kg for this year’s marketing season.
This is an increase from last year buying price which was pegged at K110.
And the Agency says it is expected to buy a 50kg bag of soya beans at k500 for this year’s marketing season.
Announcing the Food Reserve Agency 2021 Crop marketing arrangements, FRA board Chairperson Kelvin Hambwezya says the agency will also procure paddy rice at K 200 per 40 kg.
Mr Hambwezya says the decision to increase the buying prices for the Agriculture commodities to motivate the farmers to increase their production.
Meanwhile Mr Hambwezya says the food reserve agency is this year expected to buy between five hundred thousand metric tonnes and one million metric tonnes of maize whilst the agency will procure about 50,000 metric tonnes of soyabeans.
And Mr Hambwezya says government is expected to release funds for the payment of farmers this week.