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Finance Minister Rules Out Paying Maize Farmers In USD

Finance Minister Rules Out Paying Maize Farmers In USD

Finance and Economic Development Minister, Professor Mthuli Ncube, has ruled out paying farmers in United States dollars (USD) for maize deliveries, but said there were exceptions for those growing export-oriented crops. 

There are wider calls for dollarisation as the local currency keeps tumbling, but the government has maintained that dollarisation is not good for the economy.

In an address to Parliament on Wednesday, Ncube said there had been no change in policy, and farmers would be paid in Zimbabwe dollars. He said:

We are not there yet.  We are not ready for that, we have our own domestic currency and we want to set all these agriculture sector prices in domestic currency and also to promote the use of our own currency. 

However, there are farmers who are receiving payments in US dollars because they are producing crops which are export-oriented such as tobacco, cotton — even cotton is in part US dollar, that is understandable because those crops earn foreign currency but not for crops which do not earn foreign currency.

Meanwhile, senators recently urged the government to raise the maize producer price to lure more farmers into growing the crop as Zimbabwe is facing a poor harvest this year.

Ncube said there were plans to deploy extra resources to fund winter wheat production as part of measures to curb soaring bread prices.

He said an estimated 75 000 farmers would benefit from the programme that targets to produce 350 000 metric tonnes of wheat.

Ncube added that the government reduced the strategic reserve levy on domestic fuel price from US$12.7 cents to current levels of US$8.7 cents/litre beginning January 2022 through SI 31 of 2022 in an effort to cushion the general public and businesses against increases in the price of fuel.

He added that the Government was looking into additional policy measures to address the situation.

More: NewsDay Zimbabwe 

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hmm 2 months ago


Phidza 2 months ago

@John Chifamba# iwe unofanira kuita finance minister

John Chifamba 2 months ago

Apererwa Mthuli. l am not an economist but the maize farmers are saving maize imports. If all farmers grow tobacco or other direct export crops which bring forex, the country will fork out US$ to import. So minister of finance should see that maize farmers deserve to be paid in a stable currency. Or are they preventing you from stealing because you are not buying maize from outside. Revisit this policy

Hezvoko 2 months ago

@John Chifamba you seem to have a point regarding forex saved by growing maize. Sei vasingazvione zviri pachena. When the country is without maize, they then spenyt forex to import. why not give it to our local farmers?

Terminator 2 😎 2 months ago

Asi kana Tagwirei akauya nacho anopiwa ma USD 🤔🤔🤔🤔🤔🤔🤔🤔

1234 2 months ago

apa vanokupa rtgs after 4 mnths isatenge


Sir tindo 2 months ago

Ko kungonotengesera kune vakomana zvinei

chikiti.. musavengana 2 months ago

farmer usaudzwe zvekuita oa chibage chawakarima wega better kutotengesa chero ne $5 uchiwana mari yako ipapo apapo than kuzopuwa rtgs apa ya rohwa fut ne rate

MID 2 months ago

haaa bâto Redu razodhakwa ma comrades
ngaacgipinda hake mkomana

putin 2 months ago

nekuti chibage hakuna ndoo pamava kuti mobhadhara us

Ukraine 2 months ago

@Putin vati varimi vechibage hativape mari ye America tinovapa mabond

Chen 2 months ago

Don't worry farmers don't deliver to GMB ,will pay you hardcash , tichitora chibage chenyu.

Thanks 2 months ago

Tichangozotengeserana tega mumaraini. Hatiendesi ku GMB. Rimai chenyu pa GMB ipapo. Hameno henyu kuti muchachiwanepi chibage chacho. Chitori changu mugomo 1 ndinoita 100 rand pamba pangu and chirikutomhanya izvezvi
Muchatengeserwa nema warvet akapusa

JARAVAZA 2 months ago

Farmers have none other than selling their produce to black market. Do what benefits you farmers. What's the use of taking your produce to gmb and he given nothing. To make matters worse, the payment will be done after 2 yrs. Tha ball is in your hands, take it or leave it. Tengeserai vane cash US$ chete. You buy inputs using US$, now tht I am selling my produce, I am rewarded with an eroded currency which can not buy even in our local shops. Go to hell ncube

Roosy 2 months ago

A Mturi msadaro kutora musvo monodya mhiri kwamakungwa mwana wevhu achidya nhoko paziya take,,,,lead by example tione kana bond richizipa.Matiuraya akuru

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