The Government has pegged the wheat marketing price for the 2023 agricultural season at US$520.25 per tonne.
This indicates a slight increase from the pre-planting producer price of US$520 per tonne, reports The Herald.
Wheat farmers will be paid three quarters of the amount in US dollars for their deliveries, and the remainder will be payable in Zimbabwean dollars.
Speaking during a press briefing, Minister of Lands, Agriculture, Fisheries, Water and Rural Development Dr Anxious Masuka said:
“The price determination is based on the approved pricing policy which uses a standardised maize production model, cost plus pricing model, an average yield level of 4.8 tonnes per hectare and 15 percent margin above breakeven price.
“Submissions from various stakeholders are also taken into consideration. Up to 80 percent of wheat production costs are in USD.”
Masuka highlighted that the Grain Marketing Board will buy all wheat funded by the Presidential Input programme as well as by the self-financed farmers and will be the buyer of last resort.