Wheat Farmers Struggling To Access Forex On The Interbank Market

Commercial wheat farmers are failing to access foreign currency from the interbank market needed for the upcoming winter season. Wheat farmers urgently require US$12 million for the 2019 season.

This was revealed by growers’ coordinator Graham Murdoch while addressing delegates at the Grain Millers Association of Zimbabwe (GMAZ) extraordinary meeting on Friday. Said Murdoch:

Although we have secured the majority of the inputs required for the winter planting season which begins early next week, it is important to highlight that at this point in time we have not been able to secure foreign currency through the interbank system.

… We have also approached the relevant authorities on the matter and they have given us assurances that they are working on it.

National Foods chief executive Michael Lashbrook revealed that the country’s wheat stocks will last only one month. He also warned that if foreign currency is not availed, flour will soon run out.

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More: NewZimbabwe.com