By 
Zimbabwe Mercantile Exchange (ZMX) and the Grain Millers Association of Zimbabwe (GMAZ) have joined forces to promote local production, ensure food security, and enhance market efficiency under the theme,” Enhancing Grain and Oil Seed lntake through Structured Market Solutions”, the Memorandum of Understanding was signed to day in Harare.
This partnership aims to create a robust, integrated, and traceable grain supply system that reduces post-harvest losses, shortens payment cycles, and promotes quality assurance.
The ZMX Board Chairman Mr Dereck Odeteye emphasized the importance of this collaboration, highlighting the exchange’s mission to create a transparent, efficient, and accessible platform for agricultural commodities trading.
The ZMX has implemented several key initiatives, including Warehouse Receipt System, Warehouse Receipt Discounting Facility, and expansion of trading options to support farmers and promote fair pricing.
Speaking at the signing ceremony the GMAZ chairperson Tafadzwa Musarara highlighted the industry’s efforts to promote local production and ensure food security, “With an aggregate turnover of $1.2 million USD, the grain milling industry has imported maize to complement local stocks during times of drought. GMAZ has built trust with the government through cooperation and has grown over 800,000 hectares under contract farming arrangements for maize and other crops.
The industry welcomes the recent bumper harvest of maize and anticipates massive trades starting soon. GMAZ commits to buying and paying for maize financed by participating banks, ensuring maize meal availability until the next harvest. The association is also working with the Ministry of Agriculture on contract farming for local rice production to meet growing demand”.
This joint initiative by ZMX and GMAZ marks a new era for Zimbabwe’s agricultural sector. With a focus on innovation, collaboration, and market-driven solutions, the industry is poised for growth and development and the partnership aims to contribute to food security, job creation, and rural development in Zimbabwe, ultimately driving a more resilient and prosperous agricultural economy.
Comments