By Staff Reporters THE Grain Millers Association of Zimbabwe (GMAZ) has increased the prices of maize and wheat by 50% and 17,8%, respectively.
The price of a 10kg roller meal rose from $1 099 to $1 665, while a loaf of bread was retailing at $310 before the latest increase.
In a statement, GMAZ said commercial white maize price increased to $75 000 per tonne from $50 000 which translates to a 50% increase.
Meanwhile wheat rose 17,8% to $66 000 per tonne from $56 000.
“These increments are substantial and millers cannot absorb them. At its urgent virtual meeting of yesterday, the GMAZ secretariat reported the following price movements: (a) 10kg roller meal to increase by 52% to $1 665 from $1 099 (b) one tonne of wheat bread flour to increase by 31% to $215 000 from $164 523 per metric tonne,” part of the statement read.
The association also said the existing food inflation crisis was causing severe decline in profits.
“The subsisting global food inflation crisis is causing serious headwinds and Zimbabwe is not spared. Similar price increases of maize meal and bread flour are also being experienced in other regional countries such as Botswana and South Africa,” the statement added.
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