GRAIN Marketing Board (GMB) is projecting to increase its market share from the current 15% to 20% in 2015 by introducing new more products during the coming year, an official has said.
In an interview with Southern Eye Business GMB corporate affairs communications manager Muriel Zemura said they introduced Silo Parboiled Rice and Silo Peanut Butter during the Zimbabwe International Trade Fair (ZITF) and are expecting to introduce more products during the coming year.
“We introduced Silo Parboiled Rice during ZITF week and Silo Peanut Butter should be in the market in next six weeks. We are also working on value-adding small grains like sorghum, millet and rapoko,” Zemura said.
“Two new products are expected to be introduced during the coming year and increase market share from the current 15% to 20% in 2015,” she added.
Two new products, Silo Mixed Fruit Jam and Silo Soya Delight Chunks were also added to the commercial products portfolio.
The organisation has rebranded and repositioned Silo range of products to make the brand more competitive in the market.
GMB posted a profit of over $873 000 for the 2012 to 2013 season up from $24 997 the previous season.
The GMB board chairman Charles Chikaura said in a statement there had been a decrease in maize received in the 2013 to 2014 marketing year from the intake that was received in the previous four years.
He said the decrease in maize deliveries was a result of erratic climatic conditions which affected production, delayed inputs, late farmer payments and crop production shifts, as most farmers resorted to high-earning crops like tobacco.
He said during the season under review, GMB faced shortage of grain bags, poor storage infrastructure, transport logistics and limited liquidity compounded by delays in receipts from Treasury.
Cumulative maize deliveries amounted to 33 273 metric tonnes for the 2013 to 2014 marketing season while small grains amounted to 395 metric tonnes.
Total maize and small grains deliveries were valued at $12,6 million.
He said a total of 7 644 metric tonnes of wheat valued at $3,6 million was delivered while wheat payments amounted to $3,1 million.
Chikaura said the 2013 to 2014 marketing season was characterised by low grain intakes compared to the past two marketing seasons.
The GMB has projected marketable surplus of maize based on the results of the current crop forecasts for the 2014 to 2015 at 250 000 metric tonnes.