Packaging manufacturers backtrack on decision to sell in forex: Millers

MILLERS have said manufacturers of packaging materials have agreed to reverse their decision to sell their products in foreign currency while also revising downwards prices payable in RTGS.

Grain Millers Association of Zimbabwe (GMAZ) spokesperson, Garikai Chaunza said recent price increases on the account of packaging costs affected the prices of most basic commodities.

"Maize meal, flour, rice and salt are basic food commodities. Any price increase on the account of packaging costs will be unfortunate and makes these products unaffordable to millions of consumers," he said.

Chaunza said negotiations were underway to ensure prices of basic commodities remained stable.

"Three major packaging companies have decided to co-operate and GMAZ will give them their full support. Negotiations with three big packaging companies are being concluded so that the prices of rice, maize meal and flour remain stable."

However, he said if this fails, local millers will lobby government for foreign currency allocation to import packaging materials on their own.

Packaging manufacturers have said they need at least $7 million to cater for the forthcoming festive season alone.