President Edgar Lungu has officially announced the upward adjustment of the Maize floor price from 75 kwacha to 85 kwacha per 50 kilogramme bag of maize.
President Lungu says the upward adjustment of the floor price was arrived at after wide consultations with the Ministry of Finance, Bank of Zambia and technocrats.
The President said the move is to appreciate the hard work of farmers for producing a bumper harvest even in the midst of challenges.
Farmers and organisations have welcomed the increase of the maize floor price by President Edgar Lungu from 75 to 85 Kwacha per 50 Kilogramme bag of Maize.
National Union of Small Scale Farmers Association President Frank Kayula has hailed the development saying President LUNGU has heard the pleas of farmers.
Mr Kameya has told ZNBC News that small scale and peasant farmers have been lobbying government to increase the price of maize since Agriculture Minister Given Lubinda announced the maize floor price in April.
And Lusaka economist Grayan Lwando said the increase will empower peasant farmers.
And the Zambia Cooperative Federation-ZCF-President James Chirwa also said the move will result in increased revenue for farmers.
Mr Chirwa said the development is long overdue.