Business and Finance

NFRA needs K78 billion more

NFRA needs K78 billion more

By Wezzie Gausi:

The National Food Reserve Agency (NFRA) has said it urgently needs K78 billion funding to procure an additional 120,000 metric tonnes (mt) of maize before the next harvest.

According to NFRA, this procurement is vital for maintaining food stability, especially as rural areas continue to face untold food shortages because of poor harvest due to the El-Nino-induced weather conditions.

In an interview, NFRA Chief Executive Officer George Macheka said additional maize would help in price stabilisation during the lean period, which will be made available for sale in Admarc markets throughout the country.

He said the Department of Disaster Management Affairs has already begun drawing maize from the requested 47,000 mt of maize to be distributed to Malawians in need between now and December 31 2024.

“As part of the government’s proactive approach, it is worth noting that these drawdowns are taking place before the onset of the lean period from January to April. This prudent measure reflects the strategic management of existing resources to mitigate the effects of hunger and ensure that people in the country do not die because of hunger.

Betchani Tchereni

“Recent assessments indicate that unpredictable weather patterns are increasingly impacting agricultural yields, making buffer stocks essential to safeguard against potential food shortages. The agency is, therefore, still buying maize using the available resources and is appealing for more resources to meet the set target,”Macheka said.

Commenting on the request, Secretary to the Treasury Betchani Tchereni said the government was aware of the dire need of resources at NFRA.

He said they had been in talks with NFRA and they could confirm that resources for the purchase of maize had been identified through development partners.

“We will be firming up very soon so that the agency together with Admarc are all able to stock up. All we are waiting for are the actual disbursements because the negotiations are done already,” Tchereni said.

Meanwhile, NFRA has launched a mobile markets initiative designed to facilitate direct purchases of maize from farmers in rural areas.