Zambia Earns $17.8 Million From Shipments of Corn to Region, Post Reports

Zambia earned $17.8 million from exporting about 109,249 metric tons of corn, the Postreported, citing Food Reserve Agency spokeswoman Mwamba Siame.

Sixty nine percent of the grain was shipped to Zimbabwe, while 28 percent went to theDemocratic Republic of Congo and 2 percent to Malawi and Namibia, the Lusaka-based newspaper said.

About 8,000 tons was sold to the domestic market, raising $1.4 million, it said.

The funds would be used to store this season’s surplus grain and repay loans for the purchase of the crop in the 2009- 10 marketing season, the Post said.

(Source: http://www.bloomberg.com/news/2011-01-24/zambia-earns-17-8-million-from-shipments-of-corn-to-region-post-reports.html)