Bread prices to go up

Posted by Maveriq

Bakers have hinted at an increase in bread prices. The bakers are blaming the lack of United States dollars needed to purchase flour products outside the country. As a result, the bakers are losing up to 12 percent in exchange losses and high service fees when they sell Euros, Pounds, and Rand to pay United States Dollars invoices.

In a letter to the Reserve Bank of Zimbabwe, the National Bakers Association of Zimbabwe and the Grain Millers Association of Zimbabwe said:

The National Bakers Association of Zimbabwe in liaison with the Grain Millers Association of Zimbabwe is hereby requesting a meeting with you at the earliest possible time to discuss issues that came out of a joint meeting held on Tuesday April 19, 2017

The other foreign-sourced bread ingredients are in the same predicament. However, flour remains the biggest raw material in bread and confectionery production. Bakers are squeezed and a bread price increase is now inevitable

More: Chronicle

 

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