By Kebba AF Touray
The National Food Security Processing and Marketing Corporation (NFSPMC) purchased 25,097 metric tons of groundnuts during the past trading season, amounting to more than D953 million, Agriculture Minister Demba Sabally told the National Assembly on Wednesday, September 10, 2025.
Responding to a question from Hon. Lamin J. Sanneh, member for Brikama South, Minister Sabally outlined the corporation’s purchasing capacity and revenue generated. “For 2025, the corporation purchased 25,097 metric tons, at the farm gate price of D38,000 per metric ton, totaling D953,686,000. The corporation also incurred the operating cost of D274 thousand, and a financing cost to the corporation which was D1,097,496,000,” he said. In total, the capacity for groundnut buying during the season was D1,311,680,250.
On annual revenue, Minister Sabally reported that the NFSPMC generated D648,225,250, equivalent to $9,241,931 in foreign exchange, while government subsidies accounted for D627,425,000. He noted that the corporation can purchase all groundnuts presented by farmers during the designated season, relying on commercial banks for additional financing once government funds are exhausted.
“The groundnut price in this country is raised to support the farmers,” he said, explaining that while the government procured groundnuts at D38,000 per ton, international sales generated only D25,830 per ton, creating a financial gap between purchase and sale prices.
Minister Sabally also addressed fertilizer procurement, responding to a question from Hon. Sainey Jawara, member for Lower Saloum. He reported that the Ministry of Agriculture budgeted D507,135,750 for fertilizer this fiscal year, and procured 20,000 metric tons of NPK and 5,000 metric tons of urea, totaling D1,430,938,000. With projected recovery from sales of D550,000,000, the remaining gap of D880,930,000 was funded through commercial banks with support from the Central Bank and Ministry of Finance.
