Bread shortages expected to ease “GMAZ”

Harare – In recent weeks the nation has experienced bread shortages mainly as a result of shortages of wheat as well as intermittent electricity supply. It has been reported that one of the country’s major baker Lobels have shut down its harare operations last week to what was believed to be minimum electricity supply as well as shortages of wheat. However the operation has since resumed production albeit on a lower pace of production.

In an update on Wednesday by Grain Millers Association of Zimbabwe, the association announced that the Reserve Bank of Zimbabwe, has released US$7 million for the payment of 19 000 metric tonnes of wheat bonded in Beira. The 19 000 metric tonnes of wheat will cover the national flour requirements for the next two and a half weeks and the National Railways of Zimbabwe is in the process of loading the paid consignment which will start trickling into the country next week said GMAZ on their Facebook page.

The situation is expected to improve the supply of flour starting next week. GMAZ highlighted that there is a consignment of 60 000 metric tonnes of cereal in Mozambique whose payment is still being negotiating with the central bank to settle so that the country does not run out of wheat.

Wheat demand has risen from 400 000 metric tonnes in 2015 to 450 000 metric tonnes in 2018 due to the change in lifestyle and production of various food stuffs that need wheat. Consequently, a total of 75 000 ha are expected to have been planted by the end of May, the country is expected to produce over 375 000 metric tonnes of wheat up from 165 000 metric tonnes achieved last season.

– Equity Axis News

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Equity Axis is an online financial media service platform focused on African markets offering real-time stock quotes, news, analysis and data.

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