Zimbabwe announces new producer prices

12/04/2019,

Amid high inflation rate, the Government revised the producer price of maize and wheat, which are now set at RTGS$ 726 per tonne and RTGS$ 1 089.69 per tonne, respectively. The Government also announced that the 38.5 percent subsidy on the selling price to millers will be maintained. New prices were also set for soybeans and cotton. As of February, retail prices of maize meal were around 50 percent higher year on year and those of wheat flour were more than double in most markets (FPMA Price Warning). The high prices were underpinned by the economic instability, mostly pertaining to the volatile and sharply weaker country's currency that raised production costs, and diminished prospects for the 2019 harvest, due to below-average rains and, more recently, by the impact of Cyclone Idai.

Country: Zimbabwe
Region: Southern Africa