Bread Prices Likely To Go Up Again Due To Low Supply Of Wheat On World Market: Grain Millers
The Grain Millers Association of Zimbabwe (GMAZ) has said that the price of bread may go up again due to the low supply of wheat on the world market. Bread prices went up by 10 per cent starting this past Saturday. Speaking to 263Chat, GMAZ chairman, Tafadzwa Musarara said,
I cannot speak on behalf of bakeries but we have a serious drought in Europe, heat waves in some parts of America, we have Elnino currently affecting the northern hemisphere and it is going to start visiting us in the next 90 days as we enter into our season.
The impact of that the immediate victim is agriculture Germany has actually stopped exports and it is now importing, Russia because of the geopolitics, the tariff wars between Russia and America we have seen them cutting down their exports. What it does is that it limits the supply of wheat on the international market and when supply lowers prices goes up so we are experiencing one of the worst or rather the highest prices.