Posted on January, 30, 2017 at 11:26 am
Maize prices in the country continue to go down, especially in the central region just a two months before the harvest season.
A snap survey by Nyasa Times in Lilongwe show a 50kg bag of maize is selling at K8000 to K9000.
This is in sharp contrast to the prices in Admarc markets where the same bag is selling at K12500.
Some vendors in Lilongwe said the maize prices are going down because traders do not want to have the 2016 maize carried over to 2017 because that would push the prices further down.
Agriculture ministry principal secretary Erica Maganga said her ministry will be meeting officials from the ministry of Finance in a bid to bring down prices in Admarc markets.
Admarc CEO Foster Mulumbe said cutting down on the maize prices in Admarc markets would lead to a loss of US$5 million following a PTA bank loan the state run grain dealers took.
Source: Nyasa Times