BAMB Prices
Contract Prices
These are prices that are set above market prices and established as an incentive to get farmers to sign Contracts and/or produce certain crops like cowpeas, beans and groundnuts. In more elaborative terms, Contract price is the minimum that a participating farmer is paid if market prices collapse but they will get the higher of the two if market prices rise above the contract price.
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Producer Prices
These are market dictated prices that are used to buy produce. Producer Prices are such that they have to be at par with the prevailing market prices for crops in the region since local produce competes with imports at the market place. A regional price discovery mechanism called the South African Futures Exchange (SAFEX) is put in place as a benchmark.