The Grain Millers Association of Zimbabwe (GMAZ) has increased its recommended prices with effect from 01 June 2019. In a letter to its members GMAZ laid out the news prices:
GRAIN MILLERS ASSOCIATION OF ZIMBABWE
TO: ALL MEMBERS MEMO
URGENT
Following significant changes in the economy influenced by, inter alia, the change in foreign exchange policy directing millers to use the interbank rate, increase in costs of fuel and pricing of packaging in foreign currency, the GMAZ Costs Review Technical Committee has thoroughly interrogated the costing of our prices and concluded the following prices to obtain with effect from 1 June 2019:
Product Maximum Miller Exit Price (RTGS) Max Recommended Retail Price (RTGS) 1. 5kg Maize Roller Meal $8.5 $9.6 2. 10kg Maize Roller Meal $16.24 $18.35 3. 20kg Maize Roller Meal $30.77 $34.77 4. 2kg Self-Raising Flour $12.27 $14.72 5. 50kg Bakers Flour $189.70 n/a 6. 2kg Salt $4.25 $4.80 7. 2kg Value White Rice $11.65 $13.98 The agreed margins, as contained in the signed Memorandum of Agreement with Confederation of Zimbabwe Retailers (CZR) have been used to compute the Maximum Recommended Retail Price.
Yours faithfully,
T. Musarara NATIONAL CHAIRMAN