Sunday, April 21, 2024
HomeBusinessRBZ Releases $20 Million For Wheat Imports

RBZ Releases $20 Million For Wheat Imports


The  Reserve Bank of Zimbabwe has released $20 million needed by millers to pay for the wheat they are importing from
Canada and Germany.

The $20 million is part of the payment for the 200 000 metric tonnes of wheat which millers through their APEX representative body, the Grain Millers Association of Zimbabwe (GMAZ) last month sourced from Canada and Germany.

The 200 000 tonnes will however come in batches until the country harvests winter wheat crop this summer.

Last week the GMAZ wrote to RBZ requesting  $11 million to pay for the first batch of the grain which docks at  Beira port in Mozambique this week.

That was after the suppliers had demanded a full payment of the 30 000 metric tonne of wheat which was being shipped from Canada and threatened to divert it if GMAZ failed to pay.


“Our logistics team is now working on how to transport the 30 000 tonnes of wheat which docks this week from Beira into the country whose arrival in Harare we are expecting starting next week and we owe this to the central bank for their swift response,”GMAZ’s  Media and Public Relations Manager, Garikai Chaunza said.

“This is the first batch of the wheat deal which we concluded last month in Canada and we are going to receive  the same quantum  every month until the winter wheat harvesting season.

ALSO ON 263Chat:  Leading tourism operator announces new senior appointments

“Our national wheat stocks were fast depleting and we are left with grain that would take the nation up to June 26,” said Chaunza.

The country  needs at least 400 000 metric tonnes of wheat per year to meet its demand of about 950 000 loaves of bread per day.
Government statistics say annual production capacity stands at 200 000  metric tonnes, leaving a shortfall of 200 000 metric tonnes.

Share this article
Written by

263Chat is a Zimbabwean media organisation focused on encouraging & participating in progressive national dialogue

No comments

Sorry, the comment form is closed at this time.

You cannot copy content of this page