Under this scheme BAMB identifies a market for a particular crop and contracts farmers to produce and supply BAMB with crops such as Sorghum, Maize, Cowpeas or Beans at agreed prices and quantities prior to planting. This helps to minimize farmers’ exposure to price risks due price fluctuations dictated by market conditions, hence empower local farmers to commercialize their arable farming operations. This facility is open to any farmer who produces locally provided he can produce 10 Mt or more per crop.

BENEFITS OF CONTRACT FARMING

  • It offers the producer 100% guarantee on a minimum price for the product. In instances where buying prices drop during harvest season, the farmer’s income is secured.
  • It gives the farmer an opportunity to budget and plan their farming operations well ahead.
  • On delivery the farmer is paid promptly (i.e. the contracted price within 7 days).
  • The producer capitalizes on any price rises.

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