The price of soya beans has continued to appreciate, and has topped K3 000/ton, said the Zambian Agricultural Commodities Exchange (ZAMACE).
ZAMACE said rising international demand was behind the increase in the price of the commodity.
“Latest bids indicate offers as high as K3 100/ton from the previous K2 450/ton. Highest bids are from Copperbelt and Central provinces while Northern and Eastern recorded the lowest bids,” said a statement issued by ZAMACE.
This year Zambia had seen an increase of 351 416 tons of soya bean from last year’s 267 490 tons. However, the market had dropped from last season K220/50 kg to as low as K70/50 kg.
Compounding the situation was the decline in the uptake of the crop by local producers of edible oils, whose production had dropped due to an influx of cheap imports.
Also read:
Cheap edible oil imports spell more woes for soya bean producers – ZNFU
