Grain Millers Blame Price Hike On Russia's Invasion Of Ukraine

1 year agoMon, 18 Apr 2022 13:49:21 GMT
Share on FacebookShare on TwitterShare on LinkedIn
Grain Millers Blame Price Hike On Russia's Invasion Of Ukraine

Industry and Commerce Deputy Minister, Raj Modi, says the Russia-Ukraine war has caused a rise in global fuel prices, a development that affects production lines, not only in Zimbabwe but across the whole world.

Last week the Grain Millers Association of Zimbabwe (GMAZ) announced a 52 per cent and 31 per cent increase for mealie-meal and flour respectively.

A price of a 10kg bag of mealie-meal now costs ZWL$1 665 up from ZWL$1 099. The price of a tonne of flour rose from ZWL$164 523 to ZW$215 000. Said, Modi:

The justification for the increase is well known by everyone, it’s because of the war (Ukraine-Russia war).

The price of fuel, which is the lifeline for any production chain in any industry went up.

Get Pindula News on our WhatsApp Channel

Subscribe here: https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v

To import and transport any raw materials you need fuel.

It’s not only in Zimbabwe that food prices have gone up. It’s the world over.

However, if there was no war, we would not be talking of prices increases.

Russia’s President Vladimir Putin ordered an invasion of Ukraine which was launched on 24 February this year ostensibly to end an alleged genocide against Russian speaking communities in the Donbas (part of eastern Ukraine) and combat the rise of Fascism in its neighbour.

Crude oil prices rose because the world feared the war would lead the West to ban Russian oil.

Prices jumped to a 14-year high of $140 a barrel on 7 March. They have come down since then but only slightly.

More: Chronicle



Leave a Comment

Generate a Whatsapp Message

Buy Phones on Credit.

More Deals