Bread price up Print

Harare - Stakeholders in the confectionery industry have agreed to increase
the price of bread by 10 percent with immediate effect.

The decision to increase the price follows a stakeholders meeting between
the Bakers Association of Zimbabwe, Grain Millers Association and the
National Incomes and Pricing Commission.

The new price of bread will be $1.10 and this is set to present more
problems to retailers and consumers in terms of change as smaller
denominations are scarce.

Bakers Association of Zimbabwe Chairman, Cydwell Chitehwe said players in
the sector have agreed on the price to cushion them against rising wheat
costs.

"Bakers agreed on 10% increment taking into account rising imports costs of
wheat," Chitehwe said.

National Incomes and Pricing Commission Chief Executive Officer, Esau Ndlovu
applauded stakeholders for consulting before increasing the price.

Grain Millers Association of Zimbabwe last week warned of the impending
increase in the price of wheat and wheat related products in response to the
global cereal prices that have short up by 80 percent.

Prices on basic commodities that are wheat related are expected to go in the
coming weeks as market players adjust their prices in line with global
trends.

GMA chairperson Tafadzwa Musara said the ban of wheat exports by Russia has
resulted in the shortage of wheat on the global market and as result pushing
prices up.

"As a net importer without cautionary strategic reserve, the local milling
industry has no option but to increase prices of flour and other related
products by 25% of the landed prices," Musara said.