By A Correspondent| Bakeries will on Thursday hike the price of bread from the current ZWL$560 to ZWL$730, ZimEye can exclusively report.
This follows the Grain Marketing Board (GMB) decision to effect a 363 percent increase in the price of wheat from ZWL$66 000 to ZWL$239 360.
A source from one of the bakeries told ZimEye that the hike in the price of wheat left with no choice but to also increase the cost of flour which is now ZWL$499500 per tonne.
“The price of flour has gone up by 26 percent from ZWL$397000 to ZWL$499500 per tonne,” The source said.
The source added that the interbank foreign currency exchange rate which has lost value against the United States Dollar by 16.4 percent from ZWL$311 to ZWL$362 contributed to the increase in the price of bread.
National Bakers Association of Zimbabwe could not be reached for a comment.