The World Food Program (WFP) concluded forward delivery contract for the purchase of 40,000tns  of maize from 29 farmers’ cooperatives’ unions, Fortune reported.

The WFP signed agreements with the Agricultural Transformation Agency (ATA), the Commercial Bank of Ethiopia (CBE) and four of the 29 unions, on Tuesday, August 27, 2013, at the Harmony Hotel.

The WFP started forward delivery contracts in Ethiopia in 2012/13 under the Purchase for Progress (P4P) and the Maize Alliance programs. The prices offered this year range from 420 birr a quintal for maize from the Southern region to the 520 Br for maize from Amhara. These prices are lower than the 533 birr and 645.75 birr, respectively, paid the previous year.

The maize supplied from the cooperative unions will be be used for the WFP's local food aid and school feeding programs.

Source: Fortune