Wednesday, January 25, 2023
No Result
View All Result
NEWSLETTER
Agric Journal
HARARE WEATHER
  • News
    • All
    • Crops
    • Farm Management
    • Livestock
    • Machinery
    • Markets
    • Technology
    An official from the department of Agricultural Engineering, Mechanisation and Soil Conservation constructing a contour ridge at a field in Nyakudya village in Goromonzi over the weekend.

    Government launches soil and water conservation programme in Mashonaland East

    State of preparedness for 2022/23 cropping season

    State of preparedness for 2022/23 cropping season

    Govt finances production  of local implements

    Govt finances production of local implements

    Editor’s Note

    Editor’s Note

    Another successful season beckons

    Another successful season beckons

    Understanding the goat supply

    Understanding the goat supply

    FOOT and Mouth Disease

    FOOT and Mouth Disease

    Moving towards a sweet potato driven economy

    Moving towards a sweet potato driven economy

    Why horticulture is a low hanging fruit

    Why horticulture is a low hanging fruit

  • Livestock
  • Crops
  • Farm Management
  • Machinery
  • Technology
    Responsible pesticide use on tobacco

    Responsible pesticide use on tobacco

    Trending Tags

  • Markets
    • All
    • Market Analysis
    • Successful Marketing
    Editor’s Note

    Editor’s Note

    Moving towards a sweet potato driven economy

    Moving towards a sweet potato driven economy

    Leveraging Zimbabwe mercantile exchange for soya bean trading

    Leveraging Zimbabwe mercantile exchange for soya bean trading

    Inputs suppliers discard Govt directive on prices, manipulate exchange rate

    Inputs suppliers discard Govt directive on prices, manipulate exchange rate

    Tobacco contract farming: The real deal

    Tobacco contract farming: The real deal

    Tobacco: Major cash crop and foreign currency earner

    Tobacco: Major cash crop and foreign currency earner

    Crock of gold in garlic farming

    Crock of gold in garlic farming

    Are contract arrangements fair for farmers?

    Innovativeness can reduce seed production costs

    Innovativeness can reduce seed production costs

  • Weather

    Trending Tags

  • News
    • All
    • Crops
    • Farm Management
    • Livestock
    • Machinery
    • Markets
    • Technology
    An official from the department of Agricultural Engineering, Mechanisation and Soil Conservation constructing a contour ridge at a field in Nyakudya village in Goromonzi over the weekend.

    Government launches soil and water conservation programme in Mashonaland East

    State of preparedness for 2022/23 cropping season

    State of preparedness for 2022/23 cropping season

    Govt finances production  of local implements

    Govt finances production of local implements

    Editor’s Note

    Editor’s Note

    Another successful season beckons

    Another successful season beckons

    Understanding the goat supply

    Understanding the goat supply

    FOOT and Mouth Disease

    FOOT and Mouth Disease

    Moving towards a sweet potato driven economy

    Moving towards a sweet potato driven economy

    Why horticulture is a low hanging fruit

    Why horticulture is a low hanging fruit

  • Livestock
  • Crops
  • Farm Management
  • Machinery
  • Technology
    Responsible pesticide use on tobacco

    Responsible pesticide use on tobacco

    Trending Tags

  • Markets
    • All
    • Market Analysis
    • Successful Marketing
    Editor’s Note

    Editor’s Note

    Moving towards a sweet potato driven economy

    Moving towards a sweet potato driven economy

    Leveraging Zimbabwe mercantile exchange for soya bean trading

    Leveraging Zimbabwe mercantile exchange for soya bean trading

    Inputs suppliers discard Govt directive on prices, manipulate exchange rate

    Inputs suppliers discard Govt directive on prices, manipulate exchange rate

    Tobacco contract farming: The real deal

    Tobacco contract farming: The real deal

    Tobacco: Major cash crop and foreign currency earner

    Tobacco: Major cash crop and foreign currency earner

    Crock of gold in garlic farming

    Crock of gold in garlic farming

    Are contract arrangements fair for farmers?

    Innovativeness can reduce seed production costs

    Innovativeness can reduce seed production costs

  • Weather

    Trending Tags

No Result
View All Result
Agric Journal
No Result
View All Result
Home News Markets

Inputs suppliers discard Govt directive on prices, manipulate exchange rate

by Wenceslaus Murape
August 26, 2022
in Markets, News
0 0
0
Inputs suppliers discard Govt directive on prices, manipulate exchange rate

Mr Paul Zakariya

0
SHARES
110
VIEWS
Share on FacebookShare on Twitter

Elton Manguwo

AGRICULTURAL inputs suppliers have resorted to increasing the US dollar price for inputs to retain the parallel market exchange rate margin following Government’s directive that prices should be pegged using the official bank exchange rate.

The financial intelligence Unit (FIU) on 19 July called on retailers and manufactures to halt the wanton pricing of goods using the parallel market exchange rate and return to the official exchange rate.

But retailers have responded in a devious manner by increasing the foreign currency pricing regime and lowering the Zimbabwe dollar pricing component to keep their profit margins high. This simply means that even if the US dollar price is converted to the local currency using the official exchange rate, the

retailers can still maintain their high profits. “The suppliers are profiteering a lot from this dual pricing system” Zimbabwe Commercial Farmers (ZFU) secretary general Mr Paul Zakariya commented recently.

This disparity and mismatch in pricing of farming inputs presents a difficult case for farming was farmers head into the 2022/23 cropping summer season.

“The situation is negatively affecting farmers, as they can no longer afford to buy inputs at such exorbitant prices especially after a difficult previous season,” said Mr Zakariya.

At this point in time, farmers should be securing key inputs such as seed and fertilisers in preparation for the summer cropping season.

A 50kg bag of Ammonium Nitrate fertiliser is being traded at an average price of $37 500 (local currency) and US$68 compared to $2 520 and US$55 respectively during the same

period last season marking a 20 percent surge after being inflation adjusted.

“The directive by Government is good and very much supported, however, the responsible authorities need to enforce market discipline in pricing to help stabilise the currency and protect the farmer and the agriculture sector against such unscrupulous traders” he added.

The agriculture industry is facing threats from disruptions in global supply chains as result of the Russia-Ukraine war, which has affected local fertiliser manufacturing through challenges in accessing raw material needed for the process. The Government through the Ministry of Industry and Commerce, however, continuing to make efforts to capacitate local manufacturers to produce fertiliser locally.

Meanwhile, farmers have pleaded with the Government through the Ministry of Lands, Agriculture, Fisheries, Water and Rural

Development to expand their inputs under the Presidential Input Scheme Pfumvudza for this coming season with Mr Zakariya further expressing how support at this time of the season is very critical for the farmers.

He added that the price of borrowing money was currently very high such that it deterred growers from borrowing from financial institutions, as the interests were making it difficult for them to repay loans the still remain with some cash.

The Government has since made its ambitions for a season better than last year’s known and mobilised more inputs than previously. Distribution of the inputs will soon be getting underway from the Grain Marketing Board’s (GMB) various depots situated across countrywide.

Tags: Ammonium Nitrate fertiliserPaul ZakariyaZimbabwe Commercial Farmers

Recommended

Fall army worm maize attack

Fall army worm maize attack

11 months ago
Why horticulture is a low hanging fruit

Why horticulture is a low hanging fruit

3 months ago

Popular News

    Connect with us

    Category

    • Crops
    • Farm Management
    • Livestock
    • Machinery
    • Market Analysis
    • Markets
    • News
    • Successful Marketing
    • Technology
    • Uncategorized

    Contact Us

    Herald House
    Cnr George Silundika & Sam Nujoma
    Harare

    Phone: +263 024 795771

    Have A Feedback?

    Tell us what you think of AgricJournal -- we welcome both positive and negative comments. Have any problems using the site? Questions?

    • About
    • Advertise
    • Careers
    • Contact

    © 2022 Agriculture Journal. All Rights Reserved. Web Design By Web Entangled - Zimbabwe

    No Result
    View All Result
    • Home
    • Crops
    • Livestock
    • News
    • Farm Management
    • Machinery
    • Markets
    • Commodity Prices
    • Newswire
    • Market Analysis
    • Successful Marketing
    • Current Conditions
    • Weather
    • Weather News
    • Technology
    • Severe Weather
    • Food

    © 2022 Agriculture Journal. All Rights Reserved. Web Design By Web Entangled - Zimbabwe

    Login to your account below

    Forgotten Password? Sign Up

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In