NMC is a State-owned enterprise with an annual turnover of around E76 million. The corporation was established in 1985 in accordance with the Companies Act of 1912 and, unlike most parastatals, there is no special Act of Parliament which incorporates it. Its two major shareholders are the Ministry of Agriculture and the National Agricultural Marketing Board. The corporation is presently involved in the business of commodity trading in white maize. It receives no annual subvention or lifeline from Government and it generates enough income to cover its running costs. The control of the corporation is vested in a Board of Directors. All Directors are appointed (and removed) by the Minister of Agriculture.