Grain Traders Association of Zambia (GTAZ) has agreed with the government to keep maize price constant until the next harvest.
In the statement to ZANIS in Lusaka yesterday GTAZ says that the agreement is of the Government- Private partnership to ensure a constant supply of maize and stable mealie meal prices between now and the next harvest.
The Millers association disclosed that the government will come in with FRA maize to keep the mealie prices stable.
“At no time is Government paying for the maize held by Grain Traders. At this time of the year, maize supply is reducing, and prices are expected to rise until they hit import parity price. As responsible corporate citizens and in response to the Governments appeal, we agreed to forego the opportunity of additional margins and keep our prices at current levels. We have also pledged our support to Government to assist in ensuring that maize supply to the market is guaranteed between now and the new harvest in June 2020,” the statement read in part.
GTAZ feels that the agreement has been reached because of the close cooperation the institution has with the government.
Is predicted that the current maize prices are sitting at K4, 200 per metric ton has the potential to reach import parity level of K5, 900 by the end of December 2019.