The Group registered strong revenue growth supported by a surge in sales volumes coupled with price adjustments and a decline in monetary loss. The abundant rains received during the main farming season were a big boost for seed demand. Maize remained the flagship seed crop for the Group contributing 55% of the volume and growing by 61% due to strong government and open market demand, and 3,600mt exports to Malawi, Tanzania and Mozambique. Wheat sales increased by 66% buoyed by a once-off 2000mt export order to Nigeria while Soybeans volume went up 17% driven by strong oilseed local demand. The introduction of the Foreign Currency Auction System by the Reserve Bank of Zimbabwe and the accompanying tight monetary policy stance contributed to exchange rate stability and inflation deceleration which allowed the Company to maintain its selling prices throughout the summer planting season. Resultantly, in historical terms, FY21 revenue ...
