The floor producer prices of maize, soya beans, traditional grains and sunflower have been increased for this year’s marketing season.
The new producer price for maize and traditional grains is now ZWL$75 000 per tonne.
Previously, the floor producer price of maize was ZWL$58 553 while that of traditional grains was ZWL$70 263.90.
The floor producer price of soya beans has been set at ZWL$171 495, up from ZWL$125 530.17 per tonne.
The price for sunflower is now ZWL$205 794.52 a tonne, up from ZWL$150 686.20 per tonne.
Addressing the media on Tuesday, 26 April after the Cabinet meeting, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa, said Cabinet approved the producer prices after a presentation from Lands, Agriculture, Fisheries, Water and Rural Development Minister Anxious Masuka. Said Mutsvangwa:
Cabinet noted that in order to maintain farmer viability and profitability, there is a need to review the prices for maize, traditional grains, soya beans and sunflower so that they are in sync with existing economic realities.
A good price that promotes sustainable growth of a particular value chain is that which allows the farmer to realise at least a 15 per cent profit margin.
Masuka said the Government reviewed the producer prices of grains after considering global increases in fertiliser prices caused by the war in Eastern Europe.