Soya beans price soars

THE price of soya beans has gone up from K2,200 per tonne to about K2,700 in some parts of the country, Zambia Commodity Exchange executive director, Jacob Mwale, has revealed.

Mr. Mwale said at the close of business for the month of September 2017, on the commodity exchange market buyers were offering to buy the crop between K2, 450 and K2, 700.

Speaking in an interview with the Daily Nation, he said the price of soya beans had actually shifted from the opening market of as low as K2, 200 to the current range.

He said the demand for soya beans had gone up leading to the increase in the prices.

“The demand for soya beans on the international market has gone up and this has led to the increase in the price being offered by buyers on the commodity market, “he said.

He noted that pricing at harvest for most crops was generally low unless there was over supply.

It was important for Zambian farmers to avoid selling their produce immediately after harvest, Mr. Mwale said.

He advised farmers to store their crops and wait for an increase in the demand for them to get value for their investment.

“Famers need to avoid selling their produce at low prices and this is better done by them keeping their produce in warehouses until they get a good offer for their produce, “he explained.