Grain Marketing Board Blames U.S.$209 Million Loss on Govt

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Mixture of dried lentils, peas, soybeans, beans - background

Enterprise Television- Grain Marketing Board Blames U.S.$209 Million Loss on Govt

The Grain Marketing Board (GMB) has blamed its cumulative $209 million loss to producer price incentives provided to local farmers by government.

This was revealed by board chairperson Charles Chikaura at a 2018 parastatals strategic meeting held recently in the resort town of Nyanga.

However, The 2017 price was higher than what was paid in regional countries such as Zambia and South Africa where a tonne costs $150 while Brazil, in Latin America, pays its farmers $140.

Chikaura said GMB will be working with the Auditor General to come up with appropriate accounting of various strategic grain reserve (SGR) disbursements from government to the parastatal which would have the effect of adjusting the loss position.

The company has also developed a new business model that seeks to rationalize its business by refocusing business activities towards fulfilment of its food security mandate.