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