Bakers slash bread price

BAKERS have reduced bread price by 16% to $66 down from $85 for the standard loaf following a cut in flour price by the Grain Millers Association of Zimbabwe (GMAZ).

Bread price moved from $18 to $79 in two months after bakers began importing their own flour as GMAZ had run out of wheat.

“On behalf of wheat millers, I am pleased to advise that the cost of bread flour with effect from July 3 has been reduced from $3 150 to $2 136,89 per 50kg,” GMAZ chairperson Tafadzwa Musarara said at a Press briefing yesterday.

Musarara said this development came after the re-establishment of the foreign currency auction system by the Reserve Bank of Zimbabwe (RBZ) which led to the allocation of foreign currency to millers.

“From now on, our prices will be guided by the foreign currency auction outcomes. GMAZ has had fruitful discussions with the RBZ governor, (John) Mangudya, whereupon foreign currency allocations to millers are now being made,” he said.

He added that bakers had committed to reduce the price of bread from a wholesale price of $70 and a retail price of $79 to a wholesale price of $59 and a retail price of $66 effective today.

Musarara added: “However, GMAZ private wheat imports are continuing and we are endeavouring to ensure national adequate supplies between now and December 31, 2020.”

The National Bakers Association president Ngoni Mazango could not be reached for comment.