Millers & Retailers Sign Agreement Meant To Regulate Prices

The Grain Millers’ Association of Zimbabwe (GMAZ) and the Confederation of Zimbabwe Retailers (CZR) have signed a Memorandum of Understanding for self-regulatory mechanisms to overcome price hikes.

GMAZ and CZR revealed that the deal shall result in the deployment of a team of 150 people across the country starting Monday to monitor prices of basic products.

Speaking to journalists after the meeting in Harare, GMAZ president Mr. Tafadzwa Musarara said that some retailers have been defying recommended prices of mealie-meal, rice, flour, and salt. He said:

You may recall that we have also set our recommended prices that are prices quoted by the miller to the wholesaler and to the retailer, which we have dubbed the maximum recommended prices.

The maize-meal recommended price for the miller is RTGS$10,50 for a 10kg packet while the retail price is RTGS$11,85.

The deal also gives retailers and wholesalers room to put a mark-up of between 12 percent and 20 percent, including the 2 percent tax, on their selling price.

In the past few weeks, prices of commodities have been rising at an unparalleled rate. This has made it hard for the citizenry particularly considering that most of the companies have not increased salaries for their workers.

Consumer rights groups, opposition political parties, and workers’ groups have resultantly threatened to take action against the unabated economic crisis.

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More: The Herald

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