Rich pickings await maize farmers

by | May 16, 2022 | Business, Local News | 0 comments

Rich pickings await maize farmers

• as Government introduces 30 percent forex component

Nevanji Munyaradzi Chiondegwa

In a move that should bring a smile and relief to farmers, Government will now pay 30 percent of the amount due to farmers delivered to the Grain Marketing Board in United States Dollars.
The move to pay farmers a part of their money in USD is meant as an incentive to improve early deliveries of maize and other grains to the Grain Marketing Board.
This was announced by Professor Mthuli Ncube, the Minister of Finance and Economic Development over the weekend when he announced a raft of measures to further stabilise the economy and contain inflationary pressures.
Prof Ncube said the USD amount due to the farmers will be calculated at the prevailing willing buyer, willing seller rate published by the Reserve Bank of Zimbabwe on the date of delivery.
He added “The payments will be backdated to date of the first deliveries of this season’s maize to the GMB.”
Meanwhile, Government has lowered import tariffs on basic commodities imported by citizens with immediate effect. The move is meant to improve access to affordable basic commodities.

“To further ensure that citizens have access to affordable basic commodities, in the face of recent substantial price increases in shops, the government hereby opens up imports of basic commodities by citizens, through the lowering of import tariffs and othe accompanying measures,” read part of the announcement from Prof Mthuli.
Those with free funds are now permitted to use them to import basic commodities.