…Vendors slash down maize price
Agricultural Development and Corporation (Admarc) is in danger of failing to repay the loan obtained from Preferential Trade Area (PTA) bank to buy maize.
The development follows the high price set by Admarc for citizens to buy the staple grains in its depots in comparison to prices set by vendors.
For the past months vendors have been selling a bag weighing 50 Kilograms (Kgs) at K11,000 while Admarc is selling the same bag K12,500.
A survey by local media has disclosed that the staple grain has further gone down in the capital Lilongwe, with vendors selling a 50kg bag at a maximum price of K9,000.
Speaking on the local press, one vendor, Arnold Mtambe disclosed that the price might further go down in the coming weeks due to high expectations that people are to have bumper harvest.
“People have seen that they are likely to have good yields for this season and we are just selling so that we can prepare for the next marketing season,” said Mtambe.
Some vendors have disclosed that the slash down has been due to distribution of maize in rural areas to hunger stricken people.
A controversial debate sparked in Malawi Parliament last year when opposition legislators took to task the agriculture minister George Chaponda on the high price of maize by Admarc.
The lawmakers argued that the price was not affordable to rural citizens of the country.
However the minister responsible Chaponda said Admarc is selling the maize at K12,500 to recover money amounting to USSD50 million from the PTA.
Admarc Chief Executive Officer (CEO) Foster Mulumbe said the grains were bought at a high price from neighbouring country Zambia.
58 thoughts on “Admarc in danger of failing to repay PTA bank loan”
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This country is about to die sudden death with government looting these so called ministers and their bwampini president will run away one day after they have finished the money in the government pulse
People are suffering too much in malawi,having to look at the picture the landowners are looking like refugees.this government is worse than muluzi’s.
mavenda akutimvetsa kukoma
I have lived in all governments, from NYASALAND to MALAWI. This is the only government that has it’s maize more expensive than the traders/vendors charge. Making it difficult for its own citizen’s to access. 2017 has gone into history as the first time in history MALAWI GOVERNMENT had most expensively raised the grain than traders/vendors.
Abweze Yekha Chapondayo Kuno Mtengo Wachimanga Ndi K190 Pa Kg Ndingachite Zokagula K250/kg Nyembaso Zacha Bola Kungodya Chisinkho Chanyemba Tulo Tapezeka Ambuye Ngwabwino Sadzalora Ana Ake Kuzuzika Mopitirira Muyeso
It’s more likely that they will fail.this will force govt to use tax payer’s money to pay PTA bank. Vicious circle
Nnnnn Malawian
Ngati Peter amadana ndi ziphuphu kapena kuba awonetse mphamvu chifukwa iye amati mdani wake wamkulu ndi njara nde tiwona tikudikila tione pomwe pakhota nyani mchira.