Agriculture Reporter

Cotton producers and Marketers Association Stewart Mubonderi has welcomed the Agriculture Marketing Authority (AMA)’s move to raise ZWL$100 million through agro-bills to support increased agricultural productivity.

According to AMA, the agro-bill will provide affordable financing to farmers in horticulture and oil seeds, Cotton seed, Soya beans, groundnuts, and Sesane production and the bill’s financial partners are AFC Commercial Bank.

“AMA’s move to provide financial assistance to farmers is highly welcome, as most farmers are struggling to finance their projects. Most farmers have brilliant ideas but what is lacking is capital, so if capacitated, am sure they will produce wonders.

“I however appeal to AMA to make sure that cotton seed growers get the good variety of seeds. The current cotton seed varieties were last developed some years back which is compromising our yields. We now need new varieties to maximise yield and profit,” said Mubonderi.

Farmers who have registered with the Marketing authority and meet other prescribed requirements will be eligible to receive agricultural loans under the facility.

The initiative is part of AMA’s strategy to facilitate and structure finances through various instruments to support production and marketing of agricultural products.

The loans are also set to promote development of the horticultural sector as espoused in the Horticulture Recovery and Growth Plan.

The Presidential Rural Horticulture Scheme has already laid solid ground, supporting rural households with plant material for different crops, establishment of village nutrition and income gardens and youth orchards.

AMA also plans to raise ZW$20 billion through the agro-bills to finance the purchase of grain for the 2021 marketing season. The procurement will be done through the Grain Marketing Board (GMB).

AMA was set up by Government primarily to promote agricultural production of strategic crops such as tobacco, cotton, sugar, soya beans, maize and barley.