Bread price in Zimbabwe has increased to $1 from 90 cents after a reduction late last year.
A local newspaper reports that the price hike was arrived at following wide consultations across all sectors and realisation that cost pressures had increased in the baking industry in recent years.
“The industry took necessary measures to increase the bread prices as they presented their challenges and justifications to the Industry, Commerce and Enterprise Development Ministry and National Competitive Commission (NCC). And all processes were above board,” said Dr John Mangudya, Reserve Bank of Zimbabwe Governor is quoted in the Herald.
Bread was reduced to 90 cents last year after an increase the price of basic commodities increased last year.
The price of bread increases after Grain Millers’ Association of Zimbabwe (GMAZ) chairman, Tafadzwa Musarara told journalists that the country is running out of wheat last week.
The chairman said that they were plans to import wheat from Canada before the grain runs out.
“We are sitting on a 90 days supply that means that the imports of wheat that are coming in will come in before we run out so there will be a smooth change of local wheat to foreign wheat,” GMAZ chairman said
Musarara had said that there is no need to panic as there are logistics in place for wheat to start reaching Beira as at 1 June later to Zimbabwe.
Commenting on the bread price GMAZ chairman said that there is nothing amiss with the increase of bread price by 10 cents as $1 dollar had always been the price since dollarisation.
“One thing most people did not understand is that we reduced the price of the bread to 90 cents when things were good for us. We will certainly return to that price when the operating environment improves,” Musarara is quoted in the Herald.
