News / Local
Drought triggers sharp rise in maize price
19 Feb 2016 at 11:23hrs | Views
The drought situation has triggered a sharp rise in the prices of maize and small grains in Bulawayo.
According to ZBC, some enterprising people are getting maize from Zambia and other countries for resale back in Zimbabwe.
At Renkini market where prices of maize, sorghum, millet, groundnuts, sunflower and beans normally range between US$3 and US$5 per bucket prices have gone up by 200%.
The traders are getting the maize from Zambia and how they get it is another story as the northern neighbour has reportedly banned the exportation of grain.
While these products are available all year round, it is the issue of prices that confirms the law of supply and demand with the rise in maize prices being testimony - the product is in short supply.
Meanwhile, kapenta fish is in limited supply pointing towards overfishing and a general decline due to the receding water levels in major rivers such as the Zambezi and the drying of some dams.
According to ZBC, some enterprising people are getting maize from Zambia and other countries for resale back in Zimbabwe.
At Renkini market where prices of maize, sorghum, millet, groundnuts, sunflower and beans normally range between US$3 and US$5 per bucket prices have gone up by 200%.
While these products are available all year round, it is the issue of prices that confirms the law of supply and demand with the rise in maize prices being testimony - the product is in short supply.
Meanwhile, kapenta fish is in limited supply pointing towards overfishing and a general decline due to the receding water levels in major rivers such as the Zambezi and the drying of some dams.
Source - zbc
