Bread flour price went up by 6,25 percent in Zimbabwe

Published 2022년 1월 25일

Tridge summary

The GRAIN Millers Association of Zimbabwe (GMAZ) announced a 6,25 percent increase in the price of bread flour to $119,000 per tonne on January 9, 2022, due to factors such as the exchange rate, increased use of alternate power sources, higher blending wheat, fuel, and labor costs. However, the 2021 command winter wheat program helped mitigate the impact on prices. The program, which saw 66,435 hectares planted with wheat, the third-highest since independence, stabilized bread flour prices and provided relief during the festive season. GMAZ is planning to expand its wheat contracting program for the 2022 winter wheat season.

The increase in global wheat prices, caused by heatwaves in the northern hemisphere and climate change, is expected to affect local millers as Zimbabwe needs at least 400,000 tonnes of wheat annually to meet its bread requirements.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Source: Bread flour price up 6,25pc | The Herald Michael Tome Business Reporter GRAIN Millers Association of Zimbabwe (GMAZ) says the price of bread flour went up by 6,25 percent to $119 000 from $112 000 tonne with effect from 9 January 2022. The successful 2021 command winter wheat programme has, however, helped subdue the impact of imported costs. In a statement, GMAZ said the increase in bread flour has been necessitated by a number of factors which encompass the upward movement of the exchange rate on the Reserve Bank of Zimbabwe’s (RBZ) auction. According to GMAZ surge in the use of substitute sources of power due to intermittent electricity supply by ZESA has led millers to rely on diesel-powered generators, thereby incurring equipment maintenance and other running costs. Increases in the price of blending wheat, fuel, and labour costs have also been cited as some of the major causes of the rise in bread flour. GMAZ highlighted that it was battling to contain local bread ...

Source: Zimbabwesituation