Bag of maize hits K15,000

Post was last updated: February 2, 2016

Maize prices continue to increase in the country, with latest prices observed in Blantyre Monday at about K300 per kilogramme or K15,000 per 50 kg bag as food scarcity hit a climax.

A visit to markets in Nancholi, Baluti, Zingwangwa, Ndirande and Chirimba in Blantyre revealed that vendors had supplies of the grain but that prices had now gone out of the roof.

The development comes at a time when Admarc depots remain empty, despite the corporation assuring Malawians that it has plenty of the grain.

The sharp surge in maize prices has also pushed up the price of processed cream of maize or mealy meal.

A half kg pack of processed maize floor, popularly known as ‘walkman’ was selling at K350 at Mabuka in Mulanje.

Vendors told The Dai ly Times that they are sourcing the commodity from across the borders, hence the extremely high prices.

With many households still feeling the aftereffects of January, many low income families have resorted to buying small portions of the grain.

Admarc is selling the grain at a subsidised price of K110 per kg but the grain is being rationed at only 20kg per person.

Admarc chief executive officer, Foster Mulumbe, told Times Television recently that his corporation has enough maize stocks to feed Malawians up to the start of the harvest season.

Mulumbe promised available that Admarc will make the grain to all its depots to enable Malawians access the commodity at affordable prices.

(Visited 90 times, 90 visits today)

Let us know what you think of this update and remember to add us on our facebook and follow us on our twitter. Make sure to come back daily for more Malawi business news updates.

Quick Links: Malawi Banking News | Malawi Technology News | Download Business eBooks | Ten Signs You Are An Entrepreneur | What is a Managing Director?

Today’s top business story: Top Commercial Banks In Malawi

Source link