The Grain Millers Association of Zimbabwe blacklists shops for demanding mealie meal on credit

Published 2023년 6월 11일

Tridge summary

The Grain Millers Association of Zimbabwe (GMAZ) is facing challenges in supplying mealie meal to mainstream retail shops due to their demand for credit terms, while millers are purchasing grain in cash from the Grain Marketing Board. The volatile local currency exchange rate is causing financial difficulties for retailers, leading them to abandon the interbank exchange rate and pay millers in local currency. GMAZ is calling on retailers to pay cash upfront or at least cash-on-delivery to continue the supply of mealie meal. The association emphasizes that the main issue is the unstable exchange rate, not inadequate maize supplies in Zimbabwe.

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Original content

Source: Grain Millers blacklists shops for demanding mealie meal on credit | Sunday News (Business) Sunday News Reporter The Grain Millers Association of Zimbabwe (GMAZ) has said mainstream retail shops are having low stocks of mealie meal because they want the product on credit terms at a time the exchange rate is volatile. The millers said while they are buying grain cash-upfront from the Grain Marketing Board (GMB), 100 percent in USD and 50 percent in the local currency, the mainstream retailers want the mealie meal on credit terms. GMAZ president Mr Tafadzwa Musarara said the large retailers should pay cash upfront or at least cash-on-delivery to enable the millers to remain in operation. “GMB requires us to pay 100 percent upfront for grain. In view of this, we are unable to give credit terms to anyone including the mainstream retail shops This explains why stocks are low in these mainstream shops,” said Mr Musarara. He explained why mealie-meal was easily accessible in ...

Source: Zimbabwesituation