Effective Today Bread Price Set At $1.40
The price of bread has risen effective today Friday 2 November 2018. The increase came after the National Bakers Association of Zimbabwe (NBAZ) had proposed to rise the price of bread to $2.20 form $1.10.
NBAZ had initially proposed a 100% increase in the price of bread, last week. The Zimbabwean Government however rejected the price rise as it came while the country was facing a chaotic wave of price increases in most sectors.
The National Bakers Association of Zimbabwe yesterday said after realizing that bread had become the most affordable staple for Zimbabweans, they had made every effort to keep the bread price affordable.
“We therefore notify the public that the price of a standard loaf should not exceed $1,30 and $1,40 to the wholesale and consumers respectively, flour being at a maximum price of $36,50 per 50 kilogram bag.
“This watered down increase has been arrived at following the Government’s intervention through the Reserve Bank of Zimbabwe that has committed to avail to the bakery industry at least 80 percent of its monthly foreign currency requirements from a current maximum of 35 percent allocation,” reads the NBAZ statement.
Industry and Commerce Minister Mangaliso Ndlovu confirmed that Government had agreed to increase its support to bakers.
“They really did not need our permission to do that (increase the price), but they notified us. They initially wanted to be $2,20 (but) then we had to come up with ways of mitigating that and there is now more assistance that they are getting which could not be 100 percent really, to keep the prices where they were.
“So they told us that with the assistance and having looked at their costs and having looked at everything, the wholesale price from the manufacturers will be $1,30 and from the retailers it will be $1,40,” said Minister Ndlovu.