Mbare Agriculture Market recorded a 14% growth in generated estimated revenue to $1,8 million during the month of April 2015 driven by vegetable sales from the March statistics, latest data has shown.
BY TARISAI MANDIZHA
According to statistics from agricultural research group, eMKambo, each farmer made an average of $417,20 during the period. Vegetables contributed 55% ($985 070) of the estimated revenue, fruits ($319 571), field crops ($194 442), gourds ($136 563), tubers ($96 225) and $58 740 came from the sale of wild fruits.
eMkambo said wild fruits come from rural districts like Buhera, Muzarabani and Gokwe, among others.
Wild fruits which contributed to the revenue were baobab fruit, which recorded $10 256, nyii also known as Berchemia discolor, bird-plum or African sweets, $41 356 and tsubvu, also known as smelly-berry finger leaf, $7 128.
It said a total of 4 292 farmers supplied 41 types of agricultural commodities in April.
“In Zimbabwe, April is the peak month for most field crops like groundnuts which is why they scored more than onions and apples. Potatoes are often low in the farmers’ market because they usually go directly into the wholesale market which is a different market,” eMkambo said.
eMkambo also said savings groups (SGs) have played a role in addressing rural and agricultural finance due to reluctance of formal financial institutions to invest in rural areas.
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“Given the reluctance of formal financial institutions to invest in rural areas and informal agriculture markets, it is highly likely that 80% of the food consumed in rural and urban areas is financed by rural savings groups and marketing clubs in agriculture markets,” it said.
“As an extension of informal agriculture markets and rural economies, these informal financial institutions are also referred to as community-based financial institutions (CBFIs).”
CBFIs were common among rural households and informal agriculture markets in the absence of institutional finance. “Savings group’s models have naturally evolved and increased in both rural and urban areas following economic decline and slow growth,” eMkambo said.
“Farmers and traders have not stopped innovating because banks have collapsed.”
