This follows a meeting earlier yesterday between the RBZ
and the National Bakers Association of Zimbabwe to discuss bread prices and
challenges of the cost of production they are facing.
During the meeting, the RBZ agreed to avail foreign
currency to bakers on a weekly basis.
Bread currently costs between $540 and $640 for a standard
loaf, while super white bread costs
$1 000.
Alternatively, it is pegged at between US$1,40 and US$1,70
at some retail outlets.
The price of bread has triggered a public outcry, with
millers attributing the price hike to erratic wheat supplies due to the
Russia-Ukraine war.
“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 distribution of bread across the
country,” a statement from the central bank read.
“In view of the positive engagement with the bakers
association, it is expected that members of the bakers association will review
the price of bread downwards.
“Going forward, the price of bread will be adjusted on
account of economic fundamentals that include the global price trends on inputs
and the movement of the foreign exchange rate.” Newsday
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