Government announces wheat price

by | Oct 2, 2023 | Business, Crime & Courts, Local News | 0 comments

Government announces wheat price

 

Mako Jerera

 

Government has set the wheat marketing price for the 2023 agricultural season at US$520.25 per tonne payable as 75:25 (USD: ZWL).

 

The pre-planting producer price was US$520 per tonne.

 

The import parity price for wheat ranges from US$344 to US$462 per tonne.

 

Addressing the media on Monday, Minister of Lands, Agriculture, Fisheries, Water and Rural Development Dr Anxious Masuka said the marketing price being proposed is consistent with achieving both food and nutrition security and macroeconomic stability.

 

“The price determination is based on the approved pricing policy which uses a standardised maize production model, cost plus pricing model, an average yield level of 4,8 tonnes per hectare and 15 percent margin above breakeven price.

 

“Submissions from various stakeholders are also taken into consideration. Up to 80 percent of wheat production costs are in USD,’’ he said.

 

The Grain Marketing Board will purchase all wheat financed under Presidential Input programme as well as by self-financed farmers and will be the buyer of last resort.

 

He also highlighted that the government is issuing a Statutory Instrument that mandates private players to provide returns on storages of grains so that it can track national stock of wheat.

 

Contractors may arrange to sell to GMB.