Other key cost drivers to decide bread price cut margins in Zimbabwe

Published 2022년 6월 25일

Tridge summary

The National Bakers Association of Zimbabwe (NBAZ) is set to reduce the price of bread following an agreement with the Reserve Bank of Zimbabwe (RBZ). The exact amount of the price reduction will depend on other cost drivers such as fuel and wheat prices. The price of bread had increased due to these cost drivers, particularly the Russia-Ukraine conflict. NBAZ requires forex to import raw materials like baking fat and enzymes, mainly from South Africa. Zimbabwe is experiencing high inflation rates due to the war's impact on global supply chains.

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Original content

Source: Other key cost drivers to decide bread price cut margins: Bakers | Herald (Business) Oliver Kazunga-Business Writer THE percentage by which bakers will reduce the price of bread following the agreement between the National Bakers Association of Zimbabwe and the Reserve Bank of Zimbabwe (RBZ), will depend on how other key cost drivers behave. NBAZ president Denis Wallah said this in an interview with Business Weekly on Wednesday, pointing out the price of bread was expected to start declining yesterday. The RBZ this week said it held a consultative meeting with the NBAZ last Friday and deliberated on the cost build-up in the bread value chain. “Taking into account the submissions by the bakers’ association and the need to stabilise the price of bread, the bank agreed with the bakers association that its members would access their full requirements of foreign exchange through the weekly foreign exchange auctions for importation of inputs and procurement of fuel for the ...

Source: Zimbabwesituation