Chaponda rules out bringing down maize prices in Admarc depots

Malawi Government has ruled out bringing down maize prices in Admarc depots despite the unprecedented fall of the prices of vendors’ maize.

Embattled Minister of Agriculture, Irrigation and Water developmen r George Chaponda said this on Friday when he answered questions from back benchers in parliament.

This was his first time to answer questions as an agriculture minister since he resumed work after serving a High Court ordered suspension.

He said the ministry of Finance would invite the wrath of the International Monetary Fund should the government bring down the prices of maize.

Chaponda  said the prices in Admarc depots were determined by the buying costs.

He said the IMF is against any subsidies, including maize subsidies, therefore lowering the prices would mean the government subsdizing the price which would not be in line with IMF policy.

Prices of maize in Lilongwe are drastically going down, as low as K7000 per 50kg bag up from K12000.

Admarc CEO Foster Mulumbe said the state grain dealers were buying the maize at K400 per kg, hence the current K12, 500 per K50kg bag.