Malawians shun Admarc markets as the grain body ponders how to repay loan

Malawians are conspicously shunning Admarc markets because its maize is more expensive than that sold by vendors as the grain body officials ponder how to repay a huge loan it obtained to buy the maize.

Admarc is selling maize at K12500 per 50kg bag, making it the most expensive as vendors are selling maize of the same weight at K1100 and below.

Admarc general manager Foster Mlumbe said management will have to plan on how to repay the loan which his Admarc took to buy the maize.

“We will have to find other means of repaying the loan but that should not be a problem,” he said.

He confirmed very few people are buying maize from Admarc markets because of the high prices.

Opposition legislators, including Leader of Opposition Lazarus Chakwera have asked the government to lower the maize prices in Admarc markets.

However minister of Agriculture George Chaponda, the government and donors say lowering the prices would not make business sense as Admarc got a loan with interest and need to repay it.