At the centre of the efforts to steady the market has been State produce trader Agricultural Development and Marketing Corporation (Admarc) Limited, which now insists its interventions have helped ease pressures and offered some relief to consumers. In its manifesto, the Democratic Progressive Party (DPP) pledged to reform Admarc into a “fully functional commercial entity with both local and international market linkages”. Admarc Limited chief executive officer Ben Botolo said the company’s immediate response following the change of government was to assess national maize stocks and identify the drivers behind the sharp price hikes hitting markets nationwide.
He said after working with the Ministry of Agriculture, Irrigation and Water Development, Admarc concluded that maize prices were “skyrocketing” and that urgent action was required to prevent the situation from spiralling out of control. Said Botolo: “What we have done in Admarc is that wherever the price of maize is going outside [and] that there cannot be affordability, Admarc has gone there to cushion. So, you find that we have contributed to the containment of inflation.” Said Botolo: “The prices have not gone up that much.
You remember before 100 days, prices of maize were just going higher. But now we can see that they are ranging from K1 000 to K1 100 per kilogramme in some cases. “With good management, we are optimistic that the price would even go down further.” Botolo further outlined a broad turnaround strategy to change Admarc’s fortunes and reposition it as a commercially viable enterprise before 2030.
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Central to this vision is diversification away from a near-exclusive focus on grain trading. Among the proposed ventures are fish farming and the manufacturing of leather products such as bags, shoes and belts using locally sourced animal skins, including crocodile skins. “We will need a lot of competent people to ensure that we realise our dreams before 2030,” said Botolo.
On financing, he said Admarc Limited intends to engage government as its key shareholder while also courting partnerships with the private sector to mobilise the necessary resources. Lilongwe-based agricultural expert Alice Mukona described Admarc’s diversification plans feasible, but warned that success will depend on seriousness, discipline and the ability to attract competent personnel.
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