News / National
Fears of imminent maize meal price increases
15 Feb 2019 at 09:30hrs | Views
1. Fears of imminent maize meal price increases have been extensively speculated in both the main stream and social media. This has, to a large extent, Fueled panic buying with some unscrupulous retailers capitalizing by overcharging maize meal.
2. Following enquiries made by the Consumer Council of Zimbabwe, Government of Zimbabwe and the public at large, GMAZ's Costs Review Technical Committee investigated the matter and the following holds:
a) Maximum Recommended Retail Price of 10kg roller meal is $7.94. b) Maximum Miller Exit Price of roller meat is $7.03 per 10kg. c) Retailers are allowed to further negotiate for discounts leveraging on quantities, payment terms or any other commercial considerations.
3. Regrettably, 10kg roller meal is being sold on some retail shelves at prices way above $7.94. The above stated price includes a traditional 10% retail margin and the 2% intermediate tax. In essence, the price of maize meal is unchanged.
4. GMAZ, as the apex representative body, is committed to the maintenance of an equilibrium that equitably balances viable pricing and fair costing of its products. A GMAZ field price monitoring team will be deployed countrywide to promote adherence to the above stated prices by all players.
5. The country is currently adequately stocked with maize and the aggregate milling capacity exceeds market demand. Consumers are assured of their Favourite brand of roller meal in their nearest convenience shops.
2. Following enquiries made by the Consumer Council of Zimbabwe, Government of Zimbabwe and the public at large, GMAZ's Costs Review Technical Committee investigated the matter and the following holds:
a) Maximum Recommended Retail Price of 10kg roller meal is $7.94. b) Maximum Miller Exit Price of roller meat is $7.03 per 10kg. c) Retailers are allowed to further negotiate for discounts leveraging on quantities, payment terms or any other commercial considerations.
4. GMAZ, as the apex representative body, is committed to the maintenance of an equilibrium that equitably balances viable pricing and fair costing of its products. A GMAZ field price monitoring team will be deployed countrywide to promote adherence to the above stated prices by all players.
5. The country is currently adequately stocked with maize and the aggregate milling capacity exceeds market demand. Consumers are assured of their Favourite brand of roller meal in their nearest convenience shops.
Source - GMAZ
