Zimbabwe Sets Committee To Investigate Rising Basic Commodity Prices

Zimbabwe has set up a committee to address rising prices of basic commodities such as bread, mealie meal, cooking oil, and flour in order to protect consumers.

The Minister of Information, Publicity, and Broadcasting Services, Senator Monica Mutsvangwa told reporters during a Post-Cabinet Media Briefing in Harare on Tuesday that the committee will recommend solutions to Cabinet to restore order. Said the Senator:

The nation is being informed that Cabinet is concerned by the spiralling prices of the 14 basic goods, especially bread, flour, cooking oil and mealie-meal. The Minister of Industry and Commerce is already engaging the concerned stakeholders including manufacturers, wholesalers, retailers and other associations on the matter. Given the urgency of the matter, Cabinet has set up a Committee to quickly investigate, monitor and make appropriate recommendations to Cabinet with a view to bringing sanity to the situation.

The Committee will comprise the following Ministers: Industry and Commerce; Finance and Economic Development; and Information Communication Technology, Postal and Courier Services. Meanwhile, the Minister of Industry and Commerce will issue an appropriate statement on the matter.

The Minister of Industry and Commerce Dr Sekai Nzenza said the committee will investigate, monitor and make recommendations with regards to the price hikes.

A recent survey revealed that the prices of basic commodities have significantly increased with retailers pricing their products at double the official market rate.

For instance, Nivea Fresh Energy roll-on is being sold in Zimbabwe at $6.54 or R120, while it is priced at only $1.42 or R26 in South Africa. The cost of Nivea body cream in Zimbabwe is ZWL$ 42 899 per jar, which is equivalent to US$38 at the official exchange rate. They used to be sold at around US$10.

Prices of basic commodities are rising in Zimbabwe due to foreign currency shortages, high inflation, supply chain disruptions caused by the COVID-19 pandemic and the war in Ukraine, drought, and government policies such as import restrictions.

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