Business

No export ban policy will boost trade

MAIZE

NOMSA NKANA, Lusaka
ZAMBIA Commodity Exchange (ZAMACE) says Government’s assurance that it will no longer impose export bans will

guarantee confidence to market players and promote trade.
Exchange executive director Jacob Mwale said the policy directive by Minister of Finance Felix Mutati that Government will not interfere with grain trading is necessary to assure market players.
In an interview recently, Mr Mwale said if Government is not providing the necessary support for local markets, buyers of commodities will look to other regions where they can get products.
“There is need for policy consistency in the agriculture market as opposed to a situation where today you have a ban and tomorrow it’s lifted. The assurance by Government will boost confidence to market players and promote trade,” he said.
Mr Mwale said most countries in the southern region have maize this year and the demand is coming from East Africa.
“At the moment, the demand for maize is from East Africa, namely Kenya, Rwanda, Burundi and Tanzania. In southern Africa, Zimbabwe has sufficient maize but they may need something from Zambia later in the season,” he said.
He said Government’s assurance gives ZAMACE leeway to engage with other countries that require agricultural commodities.

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