Grain Millers Increase Wheat, Maize Prices

1 year agoFri, 11 Mar 2022 05:12:24 GMT
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Grain Millers Increase Wheat, Maize Prices

The prices of maize and bread flour have gone up by 15 per cent with immediate effect due to the ongoing war in Eastern Europe, with both Russia and Ukraine among the top five wheat exporters globally.

In a statement on Thursday, Grain Millers Association of Zimbabwe (GMAZ) chairman, Tafadzwa Musarara, warned the prices could increase further, due to supply chain disruptions. He said:

The Grain Marketing Board had increased the cost of maize from $43 000 to $50 000 per metric tonne, necessitating an upward review in mealie-meal prices.

Coupled with this, fuel prices have also surged following the play of geo-politics in the Balkan region, in particular the Russia-Ukraine conflict, adding substantially to operating costs.

Maize-meal retail price for 10kg Roller Meal will increase by 15 per cent from $955 to $1 099.

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Bread flour will move up by 14.74 per cent from $119 000 to $136 544 per metric tonne.

Musarara said the landing price for wheat has increased by US$200 from US$475 to $675 per metric tonne.

The bread and mealie meal prices are expected to go up soon in response to the rise in the prices of wheat and maize.

More: The Sunday Mail



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