The Grain Millers Association of Zimbabwe blacklists shops for demanding mealie meal on credit
Maize (Corn) Groat & Meal
Zimbabwe
Published Jun 12, 2023
Tridge summary
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.
Original content
Source: Grain Millers blacklists shops for demanding mealie meal on credit | Sunday News (Business) Sunday News Reporter 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 smaller outlets, saying they paid for deliveries upfront. In the past weeks, the local currency has lost value, on official rate, by more than 70 percent to the USD. Mr Musarara said the issue of the exchange ...
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