Treasury Allocates US$13 Million And ZiG$115 Million GMB

Source: Treasury Allocates US$13 Million And ZiG$115 Million GMB

The Grain Marketing Board (GMB) has announced that it has received US$13 million and ZiG$115 million from the Treasury to settle payments for grain delivered by farmers.

In a statement, GMB CEO Edson Badarai confirmed that the funds are already being processed for disbursement. He added:

The Board sincerely appreciates farmers who continue to deliver to GMB, as well as Government, through Treasury, for release of the much needed financial resources for farmers. Treasury has committed to raise additional funds for farmers.

As the country spearheads wheat-based food security, farmers are encouraged to continue delivering wheat to GMB.

In September, Badarai announced that the producer price for wheat had been set at US$450 per tonne for standard grade and US$470 per tonne for premium grade, with payments to be made exclusively in United States dollars.

During the 2023 winter wheat season, farmers received US$440 per tonne, with payments split 75% in US dollars and 25% in Zimbabwe dollars at the prevailing interbank rate.

Since GMB will now pay wheat farmers exclusively in US dollars, it appears the ZiG$115 million allocated by the Treasury is intended to settle payments for maize and small grains delivered by farmers during the 2023/24 season.

It is concerning that farmers have had to wait so long for payment, especially considering that the 2024/25 season is already underway.

Many farmers would have relied on timely payments to purchase inputs well before the current season began.

The post Treasury Allocates US$13 Million And ZiG$115 Million GMB appeared first on Zimbabwe Situation.

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