GOVERNMENT has reviewed the maize producer price to 21 thousand Zimbabwe dollars per metric tonne up from 12 300 dollars with immediate effect.
The new producer price for maize and traditional grains was revealed this Friday in Harare by Silo Food Industries Managing Director, Daniel Maregedze following a cabinet approval on the 21st of this month.
“Cabinet approved reviewing of floor producer prices of maize and traditional grains from zwl12,329.72/mt and zwl12,865.79/mt to zwl16,153.84 and zwl16,856.18 respectively, for the 2020/21 marketing season,” he said.
Cabinet further approved an incentive of 30 percent on top of the reviewed producer price.
“So after the 30 percent bonuses the new approved producer prices are as follows: maize – 21 thousand dollars and traditional grains 21 900$ per metric tonnes,” he explained.
Observers feel that the new producer prices are timely and will cushion farmers delivering their grain from inflation and enable them to pay back loans advanced under the Command Agriculture programmes.