THE Grain Millers Association of Zimbabwe (GMAZ) on Thursday announced the reduction of bread price from ZWL$79 to ZWL$66.
GMAZ chairperson Tafadzwa Musarara said going forward the price of bread will be reviewed weekly in tandem with the exchange rate derived from the foreign currency auction system.
“Consequently, the bakers have committed to reduce the price of a standard loaf of bread from ZWL70.00 and retail price of ZWL79.00 to Wholesale Price of ZWL59 and Retail Price of ZWL66.00. From now on, our prices will be guided by the Foreign Currency Auction outcomes,” Musarara said.
Musarara said the reduction comes after the association discovered that bread, a basic commodity, was becoming expensive, worsening the cost of living.
“Admittedly, the price of bread, a necessity in all households, had become expensive and indeed worsened the cost of living. Following the re-establishment of the Foreign Currency Auction System by Reserve Bank, GMAZ has had fruitful discussions with the RBZ Governor, Dr Mangudya, whereupon foreign currency allocations to millers are now being made,” Musarara said.
Meanwhile, GMAZ warned they will stop supplying their products to wholesalers and shops refusing bond notes and coins.
“We urge all entities distributing our products to accept all local bank notes and use them to buy from us or bank them and pay for our products by bank transfer. Our products can be bought using either cash or mobile money or bank transfers. We demand that the same payment arrangement be extended to consumers,” Musarara said.