Zambian Government Cuts Corn Price for Millers by 20%

March 2 (Bloomberg) -- Zambia’s government has ordered its Food Reserve Agency to cut the amount it charges millers for corn by 20 percent to $160 a metric ton to reduce the price of corn meal, a staple food in the country.

Export prices for corn will remain at $200 a ton, Ronnie Shikapwasha, the government spokesman, told reporters in Lusaka, the capital, today.

Zambia had a record 2.8 million ton corn crop in the season just ended, adding to stocks of 298,682 tons that it already had.

(Source: http://www.businessweek.com/news/2011-03-02/zambian-government-cuts-corn-price-for-millers-by-20-.html)