The treasury has released K657 million to the Food Reserve Agency (FRA) for the 2021 crop marketing programme.
Secretary to the Treasury, Fredson Yamba, said this development follows the announcement of the 2021 FRA grain prices, under the principle of willing seller and willing buyer.
Mr. Yamba said in a statement issued by Ministry of Finance Public Relations Officer Chileshe Kandeta today that the funds will facilitate the smooth implementation of the crop marketing programme.
He disclosed that the money has been released in three portions.
“We have released K657 million to FRA in three tranches of which K157 million was given to them last week, K400 million yesterday and K100 million today,” Mr. Yamba said.
He said of the released funds, K500 million is ring-fenced for grain purchases.
And Mr. Yamba has commended Zambian farmers for their resounding grain production performance in the 2020/2021 farming season.
He said the importance of food security in the country’s economy cannot be emphasized.
Mr. Yamba said there was need to ensure that the country remains on a progressive path.