Story by Tendai Munengwa
Harare – THE government policy to liberalise the trading of staple maize is on course, with the Zimbabwe Mercantile Exchange (ZMX) and Grain Millers Association (GMAZ) signing an agreement to buy grain from farmers under a competitive pricing system and paying them instantly.
A new chapter in the grain marketing landscape was ushered in this Wednesday, as ZMX and GMAZ formalised an arrangement to operationalise the procurement of maize on a willing buyer, willing seller basis.
“Today we make history by signing an enabling agreement that will fully operationalise our commodities exchange, ZMX, by committing to procure all maize that will be brought to it.
“We anticipate massive trades starting in the next two weeks as the bulk of farmers are expected to start deliveries of maize. This MoU is a great departure from the practice of yesteryear where the fiscus had to intervene and shoulder the full burden of bringing maize to millers,” GMAZ Chairperson, Dr Tafadzwa Musarara.
ZMX Chief Executive Officer Mr Collen Tapfumanei underscored the importance of prompt payments, noting that the new system would provide much-needed relief to farmers.
“One of the biggest constraints for farmers is delayed payment post-harvest, but through this new arrangement, farmers do not need to wait until millers are ready to take delivery. Using warehouse receipts, farmers can access working capital in advance or can get cash within three days after deliveries.”
The development comes in the wake of a government ban on maize imports, following the announcement of a bumper maize harvest for the 2024–25 summer cropping season.
