Millers slam proposed bread price increase

The Grain Millers Association of Zimbabwe has denounced the proposed increase in bread price by the baking industry arguing that there is no justification for such a move.

The apex body of the milling industry say the surge of wheat price on the world market and the recent upward review in flour import duty by government do not warrant any increase in the price of the basic commodity.

Addressing journalists in the capital, Grain Millers Association of Zimbabwe Chairman, Tafadzwa Musarara condemned the proposed increase in bread price by the baking industry given the fact that millers resolved to absorb at least 8% of the increase in the price of flour.

The price of flour increased from $34 to $36 per 50 kilogrammes bag a figure which the Grain Millers Association of Zimbabwe say is insignificant. Efforts to get comment from the National Bakers’ Association of Zimbabwe were fruitless.

However, reports indicate that the association is threatening to review the bread price from the current level if $1 to $1.20 if import duty on flour is not adjusted from the current 20%. to 5%.