Online Reporter
Edgar Vhera
THE Grain Marketing Board (GMB) has cleared all the United States dollar (US$) and local currency (ZiG) arrears from the 2024 wheat intake as it sets its sights on this season’s increased wheat production.
GMB chief executive, Dr Edson Badarai said this in an update on grain payments.
“GMB has received ZiG 69 997 798 from Treasury. These funds have cleared outstanding obligations for wheat deliveries, while a total of ZiG 57 102 258 went towards farmer obligations for current cereals deliveries,” he said.
“GMB remains committed to working with farmers to ensure grain self-sufficiency in the country.”
GMB is paying US$450 per tonne of wheat, with the premium grade pegged at US$470.
The parastatal is buying all wheat financed under the Presidential Input Programme (PIP), and also from self-financed growers.
However, self-financed farmers have the flexibility to sell their wheat to their best advantage. GMB remains the buyer of the last resort and is working with the Zimbabwe Mercantile Exchange (ZMX) to provide commercial warehouse receipts services to all players, with contractors expected to buy back contracted wheat at market price.
Online Reporter