News / Local
Bread price hikes imminent
01 Jan 2017 at 07:36hrs | Views
Players in the baking sector have hinted on bread price increase anytime due to high cost of raw materials.
The National Bakers Association of Zimbabwe (NBAZ) says the removal of wheat from the open general import licence with effect from today has seen some local millers increasing the price of flour taking advantage of the new measures.
In his 2017 National Budget statement presented in December, Finance Minister Patrick Chinamasa added wheat flour on the Statutory Instrument (SI) 64 of 2016 list so as to boost local production.
NBAZ president Givemore Mesoemvura is quoted hinting on the price hike.
"I mean, surely, if the prices of your raw materials rise, how do you continue producing at the same price?.
"That is very obvious, as long as the price of our major ingredient has gone up, we have to pass it on somewhere if we are to survive".
A standard loaf of bread is currently selling for less that $1.
The National Bakers Association of Zimbabwe (NBAZ) says the removal of wheat from the open general import licence with effect from today has seen some local millers increasing the price of flour taking advantage of the new measures.
In his 2017 National Budget statement presented in December, Finance Minister Patrick Chinamasa added wheat flour on the Statutory Instrument (SI) 64 of 2016 list so as to boost local production.
NBAZ president Givemore Mesoemvura is quoted hinting on the price hike.
"That is very obvious, as long as the price of our major ingredient has gone up, we have to pass it on somewhere if we are to survive".
A standard loaf of bread is currently selling for less that $1.
Source - Byo24News
