IN a time when the COVID-19 pandemic has disrupted all economic activities over a long period of time, local farmers shall slightly recover from the downfall, thanks to the recent imitative by the Lesotho Flour Mills that calls for the supply of wheat and maize grain in exchange of quick payments from the milling company.
Aug. 26, 2022
2 min read
Flour Mills meets farmers halfway
The Lesotho Flour Mills
- The miller buys local wheat and maize
- All grades of wheat and maize from farmers accepted
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The company recently invited Basotho farmers, big and small to supply it with wheat and maize grains in a move to play a key innovative role in giving impetus to local economic development.
“We buy local and trade local to stimulate the local economy. We have the right quality and quantity of wheat and maize in Lesotho so by buying and producing it locally, the money goes straight back into the pockets of the community, boosting local economic growth,” Lesotho Flour Mills Chief Executive Officer, Joan Goncalves said.
All grades of wheat and maize from Basotho farmers are accepted by the company. Payments are processed as quickly as seven days after acceptance. The purchase price of these commodities is made in compliance with the South African Futures Exchange (SAFEX), the agricultural trade price use for purchasing from South African commodity traders.
SAFEX keeps prices standard and ensures that farmers do not get underpaid for their produce. Lesotho Flour Mills offers a purchase price based on SAFEX.
Agricultural development is one of the most powerful tools to end extreme poverty, boost shared prosperity and feed people.
In Lesotho, a large majority of the population in rural areas is engaged in subsistence farming and the cultivation of nutritious foods is key in an uncertain climate changing world.
Lesotho Flour Mills wants to create awareness of this local economic stimulation cycle, meaning the seller (farmer), the manufacturer (the mill) and the consumer (households) all work together to bring prosperity and increase the standards of living for communities and ultimately, their quality of life.
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The initiative supports both the farmer and the mill, which in turn stimulates the consumer’s purchasing power and directly contributes to making better conditions for economic growth and employment generation.
Reaching out to farmers is ultimately improving the country’s economic future and is mutually beneficial, making better lives for farmers and their communities.