Advertisement
AfricaTrade & Industry

Zimbabwe grain price goes up by 100% over night

Spread the love

The Zimbabwean government has scrapped grain subsidies to millers causing the price of grain to double. Following the El-Nino induced drought, the country is currently facing grain shortages and the government can no longer support millers through subsidies. Thus the price of grain sold by parastatal Grain Marketing Board has gone up by 100% from Z$2100 to Z$4100 per tonne.

In a post cabinet press briefing held yesterday, acting minister of information, Simangaliso Ndlovu said that the government has removed grain import controls. This means that any player in the market can now import grain or mealie meal and will not incur import duty costs.

Consequently the retail price of mealie meal will go up by more than 100% as imports are more expensive. Government is still yet to address how vulnerable citizens will be cushioned against the price increase.


Spread the love
Advertisement
Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
DE HONEY MONTESSORI SCHOOL

Top 10 Mortgage Banking In Nigeria

Close
Close