Meat Traders Refuse To Reverse Price Hikes Of Up To 50 percent, Second Meeting Called For

6 years agoWed, 20 Dec 2017 07:00:15 GMT
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Meat Traders Refuse To Reverse Price Hikes Of Up To 50 percent, Second Meeting Called For

Meat traders have resisted the calls from the government for them to reverse the recent price increases in the price of meat. This comes after the government was able to convince bakers to revert to old prices after Bakers Inn had increased the price of bread by $0.10. However, despite a meeting with the National Competitiveness Commission, the meat traders have resisted a price reversal. This has led to a second meeting being called for which is scheduled for today. Meat has gone up by between 30-50 percent in the last few weeks.

Confederation of Zimbabwe Industries president Sifelani Jabangwe who chaired the meeting said:

As of today (Tuesday), there is nothing yet that has been done because we saw this as a more complicated problem than even the bread one that we were facing, so this one is a bit more complicated but it can be resolved.

It (price increments) has been specifically to deal with mark-ups as all of them (meat players) are trying to hedge the challenges that they are facing but what has happened is that no one is benefiting, as consumers are not buying.

It is the costs and the coordination which is the thing about a value chain. Sometimes, if the players do not collaborate and act individually, they can actually do it to the detriment of the entire chain and this is what we have.

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