Posted on January, 25, 2021 at 09:53 am
State produce marketer Agricultural Development and Marketing Corporation (Admarc) has opened its markets earlier than previous years, selling maize at K160 per kilogram. Admarc bought the maize at K200 per kilogram.
An economic expert Professor Ben Kalua has described as a political move, the decision by Admarc to sell maize to Malawians at a loss.
This comes as the grain trader has opened its depots for the selling of maize at K160 per kilogramme when the maize was bought from farmers at K200.
According to Kalua, it is surprising that Admarc has decided to sale the maize at a lower price when the grain trader has not had operation capitol for a long time.
Over the past years, Admarc has been registering loses due to among other things, buying produce at a higher price and offering it at a loss.
In August last year, Admarc indicated it needed a capital of, at least, K300 billion to remain effective.
Source: Nyasa Times