22/08/2022
PRESS RELEASE FOR IMMEDIATE RELEASE
Lesotho Flour Mills gives impetus to local economy by buying local produce.
Lesotho Flour Mills is reminding Basotho farmers, big and small, to supply them with their wheat and maize grain and they will receive quick payment at SAFEX trading pricing, PLUS a cash incentive.
Lesotho Flour Mills, situated in Maseru, are playing a key innovative role in giving impetus to local economic development by calling on Basotho farmers and encouraging them to supply their wheat and maize crops directly to their mill. “We buy local and trade local to stimulate the local economy,” says LeFM CEO, Joao Gonçalves.
All grades of wheat and maize from Basotho farmers are accepted by Lesotho Flour Mills. Payments are processed as quickly as 7 days after acceptance. The purchase price of these commodities is made in compliance with SAFEX (South African Futures Exchange), the agricultural trade price used for purchasing from South African commodity traders.
SAFEX keeps prices standard and ensures that farmers don’t get underpaid for their produce. Lesotho Flour Mills offers a purchase price based on SAFEX - quoted at close of business the day before – as well as a cash incentive.
Agricultural development is one of the most powerful tools to end extreme poverty, boost shared prosperity and feed people, says the *World Bank. In some developing countries, it can account for more than 25% of the GDP. 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. *
(https://www.worldbank.org/en/topic/agriculture/overview)
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.
“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,” says Gonçalves.
Farmers should make contact with the Lesotho Flour Mills Quality Control Manager, Ms Lerato Kuoe, either on (+266) 2221-5200 or (+266) 5886-6064 for more information, and to schedule a delivery time for sending their produce directly to the mill in Maseru.
By using this open invitation to supply maize and wheat grain directly to Lesotho Flour Mills, the Basotho farmers have a reliable and protected place to deposit their crops in uncertain times.
This 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 Lesotho’s economic future and is mutually beneficial, making better lives for farmers and for their communities.
https://www.facebook.com/lesothoflour.mill
