Zimbabwe has suspended maize imports this year after the country recorded a bumper maize harvest, Reserve Bank of Zimbabwe Governor John Mangudya said Tuesday.
He said the suspension would result in the country saving over 300 million U.S. dollars. Due to perennial droughts, Zimbabwe has been importing an average of 100,000 tonnes of maize per month from the region and as far as South America.
The country is expected to produce about 2.8 million tonnes of maize this year, a record output in recent years, against national consumption of 1.8 million tonnes annually.
Mangudya said the money saved from grain imports will be channeled towards productive sectors of the economy such as agriculture and manufacturing.