Zambia food agency to buy 300,000 tonnes of corn

The state-run Zambia Food Reserve Agency (FRA) aims to purchase 300,000 tonnes of corn in the 2010 crop marketing season.

Up to ZMK500 billion (US$98.4 million) is required for the exercise; government has already allocated ZMK100 billion (US$19.7 million) and the rest will be raised through borrowing, the FRA acting spokesman said in a statement.

Zambia's Agricultural Ministry projects 2010 corn output to hit 1.9 million tonnes due to favourable weather conditions and timely distribution of inputs like fertilisers.

Zambia's annual corn consumption is estimated at around 1.4 million tonnes, the remainder exported mainly to regional markets.